Credo Property Group Limited
Credo European Property Ltd ("Fund II") - July 2007

Fund II up 14%   - We are pleased to inform you that, following the recent sale of the German retail portfolio, the remaining assets in Fund II have been revalued. This revaluation is based on external valuations or, where applicable, written offers, resulting in an increase of 14.13% percent in the net asset value of the fund.

Please click here to access Fund II information.

Credo Properties International Limited is pleased to announce the launch of Credo Properties III Limited ("Fund III"). Fund III intends to apply to list on the Channel Islands Stock Exchange in the Summer of 2007.

Contact your Relationship Manager
or email us at info@credogroup.com

+44 (0)20 7291 3200                             www.credogroup.com
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