DDS Dawnay Sir.

RNS Number:9157R
Dawnay, Day Sirius
09 April 2008


                                                             
                           Dawnay, Day Sirius Limited

                            Pre Close Trading Update

Dawnay, Day Sirius Limited (the "Company"), the real estate company established
to acquire large mixed-use commercial sites for upgrading to flexible workspaces
in Germany, is pleased to provide a trading update for the period ended 31 March
2008.

The Company has made good progress towards establishing a significant portfolio
of mixed-use commercial sites in Germany. Since the half year end at 30
September 2007, the Company has announced the acquisition of three properties:

   * Bayreuth acquired in October 2007 for Euro10.6 million at a net initial 
     yield of 6.4%
   * Sud-Center business park in Offenbach, acquired for Euro9 million in
     December 2007 at a net initial yield of 7.4%
   * BorsigWerke acquired in March 2008 for Euro28 million at a net initial
     yield of 8.9%

Today the Company is pleased to announce a further acquisition: a business park
in Dusseldorf acquired in March 2008 for Euro8.7 million at a net initial yield of
7.5%. The four acquisitions, purchased for a total consideration of Euro60.2
million, provide an average net initial yield of 8.0%, off passing rents ranging
from Euro2.4 per sq m to Euro11.0 per sq m, at an average capital value of Euro479.3 per
sq m. The Company is also pleased to announce the acquisition of 37,900 sq m of
vacant land adjacent to the business park in Dusseldorf for Euro4.8 million. The
site, similarly acquired in March 2008, is currently completely undeveloped and
has excellent development potential.

As a consequence, the Company has now invested a total of Euro400 million,
representing 53% of the target full investment. DTZ Zadelhoff Tie Leung GmbH
will carry out a valuation of the portfolio as at 31 March 2008, and this will
be reported in the Company's year end results, expected to be announced in June
2008.

Asset Management

Dawnay, Day Sirius Real Estate Asset Management Limited (the "Asset Manager")
has successfully secured a number of new leases across the portfolio. An
additional 26,876 sq m of space has been let during the period and new deals
have been agreed, pending signature, on a further 16,000 sq m. To meet the needs
of the growing portfolio the Asset Manager has expanded its team in Germany to
94 people, compared with 68 at 30 September 2007.

Since admission the Company has acquired 30 properties, including the initial
portfolio, with a combined lettable space of circa 815,000 sq m. The Company's
strategy is to acquire large under-utilised mixed use real estate in Germany
with significant opportunities for transformation into vibrant, branded business
parks that offer the SME market good quality flexible workspace solutions.
Branding has been completed at 18 sites and the transformation process of
upgrading to attractive flexible workspace with complementary facilities is
underway at 15 of these properties.

Developing surplus land either for additional flexible workspace or providing
complementary site usage via third party providers is also a significant part of
the Company's strategy. There is a significant pipeline of development
opportunities in the final stages of negotiation, and construction work has
commenced on two sites: a 'new box' on the Berlin Gartenfeld site, and a new
retail development unit for Burger King which is undergoing construction at
Bayreuth.

Banking facilities

In March 2008 the Company secured credit approval for a new facility of Euro101m
with Berlin Hyp, which will bring the total borrowings to Euro225 million at a
weighted average interest rate of 5.2% and a loan to value ratio well within the
criteria set at IPO. The Company has the necessary funds to pursue its strategy
and remains confident of its continued ability to obtain the necessary bank
financing going forward.

Kevin Oppenheim of the Asset Manager said:

"Demand for flexible workspace from the German SME sector remains strong with
enquiries for new lettings increasing. Reflecting the broader economic
environment, there are now even fewer buyers of assets that require active
management in the German market, and as a consequence the Company has a strong
pipeline and is finding acquisition opportunities at more attractive yields. We
believe the Company is ideally placed to capitalise upon this opportunity."


Further Enquiries:

Sirius Facilities Group              Kevin Oppenheim              020 7861 0550
www.dawnaydaysirius.com              Alistair Marks

JPMorgan Cazenove                    Robert Fowlds                020 7588 2828
                                     Bronson Albery

KBC Peel Hunt                        Capel Irwin                  020 7418 8900

Cardew Group                         Tim Robertson                020 7930 0777 
                                                                  07900 927 650
                                     Shan Shan Willenbrock
                                     Catherine Maitland


                      This information is provided by RNS
            The company news service from the London Stock Exchange

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