Ace Liberty and Stone Plc

(''Ace'' or "the Company'')

Open offer to subscribe for up to £4,850,000 Convertible Notes and Warrants

The directors of Ace Liberty and Stone Plc (NEX: ALSP), the active property investment company, capitalising on commercial property investment opportunities across the UK, are delighted to announce that the Open Offer to raise up to £4,850,000 (before fees and expenses) by way of the issue of convertible loan notes (Convertible Notes) and warrants (Warrants) has been fully subscribed.

The Convertible Notes shall convert into and the Warrants shall be exercisable over ordinary shares of £0.25 each in the capital of the Company (Ordinary Shares)

The funding will be used to allow the Company to start implementing the strategy to acquire additional properties.

The subscription will result in the holders of the Convertible Notes acquiring 4,850,000 Ordinary Shares in the Company in respect of the principal amount and an additional 485,000 Ordinary Shares in respect of interest on the principal and an additional 145,500 Ordinary Shares in respect of arrangement fees.

The Company will issue a total of 4,850,000 warrants to subscribers of the Convertible Notes to acquire Ordinary Shares at an exercise price of £0.80 per Ordinary Share.

In the event that all Convertible Notes were converted into Ordinary Shares and all Warrants were exercised, the New Ordinary Shares will represent approximately 20 per cent. of the Enlarged Share Capital.

The Directors accept responsibility for this announcement.

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Notes to Editors

Ace Liberty & Stone Plc is a London-based property investment company with a diverse portfolio of properties located across the UK, currently including Leeds, Sunderland, Plymouth, Dudley, Gateshead, Barnstaple, and London. The Company locates commercial and residential properties which have the potential for an increase in value through creative asset management activity, such as change of tenancy, change of use or new lease negotiation.  Ace has maintained a track record of generating strong profits at disposal of properties and achieving better-than average returns on capital. With strong support from shareholders and mortgage lenders, the Company is currently seeking further investment opportunities in the UK to create value for existing and new investors.

Ace is run by a board with extensive property experience, an excellent network of contacts and relevant professional qualifications. This sector expertise has allowed the Board to identify opportunities and act promptly to secure investments.

For more information on the Company please visit www.acelibertyandstone.com