1 February 2013

INVISTA EUROPEAN REAL ESTATE TRUST SICAF

(the "Company")

THE COMPANY ENTERS INTO NEW ADMINSTRATION

aGREEMENT WITH cITCO REIF SERVICES (LUXEMBOURG) s.a.

Following the tender process conducted last year in relation to administration and accounting services and the serving of termination notice on Citco Reif Services (Luxembourg) S.A.  ("Citco") in this regard, the Company is pleased to announce that it has reached agreement with Citco for substantially improved terms. Under an amended agreement, Citco will provide central administration services to the Company. The aggregate cost of the services addressed in the tender process from February 1, 2013 onwards, as previously announced, should be approximately 40% lower than under the previous arrangements, a saving of around €500,000 per annum.

Ludovic Bernard

Internos Real Investors                                                 020 7355 8800

Michael Sandler

Hudson Sandler                                                               020 7796 4133