MPE Properties Limited (the “Company”): Offer to purchase entity in MPE group and potential acceleration of Note redemption

Hamilton, Bermuda – 23 June, 2015 – MPE Properties Limited (the “Company”) is a wholly owned subsidiary of Maydown Precision Engineers Holdings Limited (“MPEH”), a holding company which also wholly owns Maydown Precision Engineering Limited (“MPEL”). On 18 Jun 2015 an indicative offer to purchase MPEL was received from Ernst & Young acting on behalf of an Irish company in the precision engineering sector (the “Offer”). MPEL is the operating entity within the MPE group of companies and is the tenant of the premises owned by the Company.

The terms of the Offer are being considered by the board of MPEL and by the MPEH’s shareholders. Duff and Phelps Securities Limited has been retained by MPEL to provide advice with regard to Offer and the prospects of receiving competing offers from other parties.

The Offer envisages that the property lease provided by the Company will continue under the intended new ownership of MPEL. It is also possible that the acquisition could be structured as a sale of assets to a new entity. In either case new lease arrangements would require approval from the Company, which in turn would seek noteholder approval in view of the cross-guarantee and change of ownership provisions within the loan note documentation.

As security trustee of the loan note programme dated 25 March 2015 (“Programme”), Lesmoir-Gordon, Boyle & Co. Limited will consider the position of the noteholders under the Programme and will coordinate any action required of them. In principle, noteholders may wish to keep the notes outstanding if the credit quality of the operating company is improved. A more likely outcome is repayment of the notes in order to facilitate an acquisition or because the new owner of MPEL believes it can re-finance the property loan at a lower cost.

If the notes are redeemed an early redemption fee of 2.5% of the outstanding principal amount will be payable.

No action is required at this stage by the Company’s noteholders. Programme noteholders are due to receive the first quarterly payment of interest and principal on Thursday 25 June 2015 and it is expected that this payment will be made.

For further information, please contact:

Lesmoir-Gordon, Boyle & Co. Limited

Angus Grierson

Director, Corporate Finance                                                                           +44 207 518 9892

Simone Westerhuis

Associate Director, Investment Advisory                                                      +44 207 758 9622

MPE Properties Limited

Will Rawkins

a2e Capital Partners

Corporate Director of Maydown Precision Engineers Holdings Limited     +44 161 923 6004