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style='font-size: 15.0pt'><o:p></o:p></span></b></p> <p class=MsoNormal align=center style='text-align:center;mso-element: frame;mso-element-frame-hspace:9.0pt;mso-element-wrap:around; mso-element-anchor-vertical:paragraph;mso-element-anchor-horizontal: column;mso-height-rule:exactly'><span style='font-size:10.0pt; font-family:"Verdana","sans-serif";color:#1F497D'><!--[if gte vml 1]><v:shape id="Picture_x0020_2" o:spid="_x0000_i1026" type="#_x0000_t75" alt="Picture2.jpg" style='width:475.5pt;height:25.5pt'> <v:imagedata src="ebriefproperty02_2010_files/image004.jpg" o:href="cid:image002.jpg@01CABF87.A99F25B0"/> </v:shape><![endif]--><![if !vml]><img border=0 width=634 height=34 src="ebriefproperty02_2010_files/image004.jpg" alt=Picture2.jpg v:shapes="Picture_x0020_2"><![endif]><o:p></o:p></span></p> <div align=center> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=595 style='width:446.25pt;mso-cellspacing:0cm;mso-yfti-tbllook: 1184;mso-padding-alt:0cm 0cm 0cm 0cm'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes'> <td valign=top style='padding:0cm 0cm 0cm 0cm'> <div align=center> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%" style='width:100.0%;mso-cellspacing:0cm;mso-yfti-tbllook: 1184;mso-padding-alt:0cm 0cm 0cm 0cm'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes'> <td valign=top style='padding:0cm 0cm 0cm 0cm'> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%" style='width:100.0%;mso-cellspacing:0cm;mso-yfti-tbllook: 1184;mso-padding-alt:0cm 0cm 0cm 0cm'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes'> <td width="100%" valign=top style='width:100.0%;padding:4.5pt 4.5pt 4.5pt 4.5pt'> <p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;line-height:12.0pt;mso-element:frame;mso-element-frame-hspace: 9.0pt;mso-element-wrap:around;mso-element-anchor-vertical:paragraph; mso-element-anchor-horizontal:column;mso-height-rule:exactly'><span class=apple-style-span><b><span style='font-family:"Arial","sans-serif"; color:gray'>&nbsp;LATEST NEWS |</span></b></span><span class=apple-style-span><b><span style='font-family:"Arial","sans-serif"; color:#1F497D'> </span></b></span><span class=apple-style-span><b><span style='font-family:"Arial","sans-serif"'>&nbsp;<span style='color:#1F497D'>Changes to Assured Shorthold Tenancies </span></span></b></span><b><span style='font-family:"Arial","sans-serif"'><o:p></o:p></span></b></p> <p class=MsoNormal align=center style='mso-margin-top-alt:auto; mso-margin-bottom-alt:auto;text-align:center;line-height:12.0pt; mso-element:frame;mso-element-frame-hspace:9.0pt;mso-element-wrap: around;mso-element-anchor-vertical:paragraph;mso-element-anchor-horizontal: column;mso-height-rule:exactly'><span style='font-family:"Arial","sans-serif"'><!--[if gte vml 1]><v:shape id="Picture_x0020_3" o:spid="_x0000_i1027" type="#_x0000_t75" alt="wind farn.jpg" style='width:480.75pt;height:162pt'> <v:imagedata src="ebriefproperty02_2010_files/image005.jpg" o:href="cid:image007.jpg@01CB7C07.F7532DF0"/> </v:shape><![endif]--><![if !vml]><img border=0 width=641 height=216 src="ebriefproperty02_2010_files/image005.jpg" alt="wind farn.jpg" v:shapes="Picture_x0020_3"><![endif]><o:p></o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:1'> <td width="100%" valign=top style='width:100.0%;padding:4.5pt 4.5pt 4.5pt 4.5pt'> <div align=center> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%" style='width:100.0%;mso-cellspacing: 0cm;mso-yfti-tbllook:1184;mso-padding-alt:0cm 0cm 0cm 0cm'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow: yes'> <td width="50%" valign=top style='width:50.0%;background: white;padding:0cm 0cm 0cm 0cm'> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%" style='width:100.0%;mso-cellspacing: 0cm;mso-yfti-tbllook:1184;mso-padding-alt:0cm 0cm 0cm 0cm'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow: yes;height:15.0pt'> <td valign=top style='background:white;padding:4.5pt 4.5pt 4.5pt 4.5pt; height:15.0pt'> <p class=MsoNormal style='mso-element:frame;mso-element-frame-hspace: 9.0pt;mso-element-wrap:around;mso-element-anchor-vertical: paragraph;mso-element-anchor-horizontal:column;mso-height-rule: exactly'><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>Prior to 1<sup>st</sup> October 2010, all tenancies (with limited exceptions) with a rent of £25,000 or less per annum were deemed to be Assured Shorthold tenancies (ASTs)&nbsp; and were governed by&nbsp; the Housing Act 1988 (the 1988 Act).&nbsp; From 1<sup>st</sup> October, the rental threshold for ASTs has increased to £100,000 per annum. <o:p></o:p></span></p> <p class=MsoNormal style='mso-element:frame;mso-element-frame-hspace: 9.0pt;mso-element-wrap:around;mso-element-anchor-vertical: paragraph;mso-element-anchor-horizontal:column;mso-height-rule: exactly'><span style='font-size:11.0pt;font-family:"Calibri","sans-serif"'><o:p>&nbsp;</o:p></span></p> <p class=MsoNormal style='mso-element:frame;mso-element-frame-hspace: 9.0pt;mso-element-wrap:around;mso-element-anchor-vertical: paragraph;mso-element-anchor-horizontal:column;mso-height-rule: exactly'><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>This increase will naturally result in many more Tenancies being governed by the 1988 Act.&nbsp;&nbsp; This is particularly so as any tenancies which were not originally ASTs due to the level of rent payable under them will automatically become one so long as the annual rent does not exceed £100,000 per annum (and provided that they are not otherwise exempt) . <o:p></o:p></span></p> <p style='mso-element:frame;mso-element-frame-hspace:9.0pt; mso-element-wrap:around;mso-element-anchor-vertical:paragraph; mso-element-anchor-horizontal:column;mso-height-rule:exactly'><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>One of the most significant points to note for Landlords of ASTs whether created on or after 1<sup>st</sup> October 2010 is that they must, within 14 days of receipt, pay any deposit received under the AST&nbsp; into an authorised Tenancy Deposit Scheme and further must provide the Tenant with prescribed information in relation to the Scheme.&nbsp; There are severe consequences for a Landlord who does not comply with these obligations.&nbsp; Failure to do so could result in a Tenant applying to court to have an errant Landlord fined up to 3 times the amount of the deposit.&nbsp; <o:p></o:p></span></p> </td> </tr> </table> </td> <td width="50%" valign=top style='width:50.0%;background: white;padding:0cm 0cm 0cm 0cm'> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%" style='width:100.0%;mso-cellspacing: 0cm;mso-yfti-tbllook:1184;mso-padding-alt:0cm 0cm 0cm 0cm'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;height: 15.0pt'> <td valign=top style='background:white;padding:4.5pt 4.5pt 4.5pt 4.5pt; height:15.0pt'> <p class=MsoNormal style='mso-element:frame;mso-element-frame-hspace: 9.0pt;mso-element-wrap:around;mso-element-anchor-vertical: paragraph;mso-element-anchor-horizontal:column;mso-height-rule: exactly'><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>Further, the Landlord will lose the right to seek possession of the property (unless there are significant breaches of the terms of the tenancies) until such time as the deposit is properly registered and the other obligations are satisfied. <o:p></o:p></span></p> <p class=MsoNormal style='mso-element:frame;mso-element-frame-hspace: 9.0pt;mso-element-wrap:around;mso-element-anchor-vertical: paragraph;mso-element-anchor-horizontal:column;mso-height-rule: exactly'><span style='font-size:11.0pt;font-family:"Calibri","sans-serif"'><o:p>&nbsp;</o:p></span></p> <p class=MsoNormal style='mso-element:frame;mso-element-frame-hspace: 9.0pt;mso-element-wrap:around;mso-element-anchor-vertical: paragraph;mso-element-anchor-horizontal:column;mso-height-rule: exactly'><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>In addition, Landlords who granted tenancies which were not deemed to be ASTs at the time of grant but which now will be as a result of the increased rental threshold will need to give Assured Shorthold Tenants 2 months notice to terminate their tenancy.&nbsp; This is applicable to all ASTs notwithstanding where the original agreement between the parties contained shorter notice periods.&nbsp; <o:p></o:p></span></p> <p class=MsoNormal style='mso-element:frame;mso-element-frame-hspace: 9.0pt;mso-element-wrap:around;mso-element-anchor-vertical: paragraph;mso-element-anchor-horizontal:column;mso-height-rule: exactly'><span style='font-size:11.0pt;font-family:"Calibri","sans-serif"'><o:p>&nbsp;</o:p></span></p> <p class=MsoNormal style='mso-element:frame;mso-element-frame-hspace: 9.0pt;mso-element-wrap:around;mso-element-anchor-vertical: paragraph;mso-element-anchor-horizontal:column;mso-height-rule: exactly'><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>The Legislation does not provide any transitional arrangements and this in turn has created&nbsp; some uncertainty as to how the legislation will apply to existing Tenancy agreements which have changed status as a result of the new rules. <o:p></o:p></span></p> <p class=MsoNormal style='mso-element:frame;mso-element-frame-hspace: 9.0pt;mso-element-wrap:around;mso-element-anchor-vertical: paragraph;mso-element-anchor-horizontal:column;mso-height-rule: exactly'><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:1;mso-yfti-lastrow:yes;height:15.0pt'> <td valign=top style='background:white;padding:4.5pt 4.5pt 4.5pt 4.5pt; height:15.0pt'></td> </tr> </table> </td> </tr> </table> </div> <p class=MsoNormal style='mso-element:frame;mso-element-frame-hspace: 9.0pt;mso-element-wrap:around;mso-element-anchor-vertical:paragraph; mso-element-anchor-horizontal:column;mso-height-rule:exactly'><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <p class=MsoNormal style='mso-element:frame;mso-element-frame-hspace: 9.0pt;mso-element-wrap:around;mso-element-anchor-vertical:paragraph; mso-element-anchor-horizontal:column;mso-height-rule:exactly'><span style='font-size:10.0pt;color:#1F497D'><o:p>&nbsp;</o:p></span></p> <p class=MsoNormal align=center style='text-align:center; mso-element:frame;mso-element-frame-hspace:9.0pt;mso-element-wrap: around;mso-element-anchor-vertical:paragraph;mso-element-anchor-horizontal: column;mso-height-rule:exactly'><span style='font-size:11.0pt; font-family:"Arial","sans-serif"'><!--[if gte vml 1]><v:shape id="Picture_x0020_4" o:spid="_x0000_i1028" type="#_x0000_t75" alt="Picture2.jpg" style='width:475.5pt;height:24.75pt'> <v:imagedata src="ebriefproperty02_2010_files/image006.jpg" o:href="cid:image013.jpg@01CABF87.A99F25B0"/> </v:shape><![endif]--><![if !vml]><img border=0 width=634 height=33 src="ebriefproperty02_2010_files/image006.jpg" alt=Picture2.jpg v:shapes="Picture_x0020_4"><![endif]><o:p></o:p></span></p> <p class=MsoNormal style='mso-element:frame;mso-element-frame-hspace: 9.0pt;mso-element-wrap:around;mso-element-anchor-vertical:paragraph; mso-element-anchor-horizontal:column;mso-height-rule:exactly'><span style='font-size:10.0pt;font-family:"Verdana","sans-serif"; color:#1F497D'><o:p>&nbsp;</o:p></span></p> <p class=MsoNormal style='mso-element:frame;mso-element-frame-hspace: 9.0pt;mso-element-wrap:around;mso-element-anchor-vertical:paragraph; mso-element-anchor-horizontal:column;mso-height-rule:exactly'><b><span style='font-family:"Arial","sans-serif";color:gray'>&nbsp;LATEST NEWS |</span></b><b><span style='font-family:"Arial","sans-serif"'> <span style='color:#1F497D'>Equality Act 2010</span><o:p></o:p></span></b></p> <p class=MsoNormal style='mso-element:frame;mso-element-frame-hspace: 9.0pt;mso-element-wrap:around;mso-element-anchor-vertical:paragraph; mso-element-anchor-horizontal:column;mso-height-rule:exactly'><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>&nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</span><span style='font-family:"Arial","sans-serif"'><o:p></o:p></span></p> <p class=MsoNormal align=center style='text-align:center; mso-element:frame;mso-element-frame-hspace:9.0pt;mso-element-wrap: around;mso-element-anchor-vertical:paragraph;mso-element-anchor-horizontal: column;mso-height-rule:exactly'><span style='font-size:10.0pt; font-family:"Arial","sans-serif";color:#1F497D'><!--[if gte vml 1]><v:shape id="Picture_x0020_5" o:spid="_x0000_i1029" type="#_x0000_t75" alt="invest-dubai-property.jpg" style='width:480.75pt; height:170.25pt'> <v:imagedata src="ebriefproperty02_2010_files/image007.jpg" o:href="cid:image010.jpg@01CB7C07.F7532DF0"/> </v:shape><![endif]--><![if !vml]><img border=0 width=641 height=227 src="ebriefproperty02_2010_files/image007.jpg" alt=invest-dubai-property.jpg v:shapes="Picture_x0020_5"><![endif]><o:p></o:p></span></p> <p class=MsoNormal style='mso-element:frame;mso-element-frame-hspace: 9.0pt;mso-element-wrap:around;mso-element-anchor-vertical:paragraph; mso-element-anchor-horizontal:column;mso-height-rule:exactly'><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <div align=center> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%" style='width:100.0%;mso-cellspacing: 0cm;mso-yfti-tbllook:1184;mso-padding-alt:0cm 0cm 0cm 0cm'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow: yes'> <td width="50%" valign=top style='width:50.0%;background: white;padding:0cm 0cm 0cm 0cm'> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%" style='width:100.0%;mso-cellspacing: 0cm;mso-yfti-tbllook:1184;mso-padding-alt:0cm 0cm 0cm 0cm'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow: yes;height:15.0pt'> <td valign=top style='background:white;padding:4.5pt 4.5pt 4.5pt 4.5pt; height:15.0pt'> <p class=MsoNormal style='mso-element:frame;mso-element-frame-hspace: 9.0pt;mso-element-wrap:around;mso-element-anchor-vertical: paragraph;mso-element-anchor-horizontal:column;mso-height-rule: exactly'><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>The Equality Act 2010, the majority of which came into force on 1st October 2010, consolidates existing discrimination Legislation which were numerous and complex. It also introduces some new provisions which will affect property owners and occupiers.<o:p></o:p></span></p> <p class=MsoNormal style='mso-element:frame;mso-element-frame-hspace: 9.0pt;mso-element-wrap:around;mso-element-anchor-vertical: paragraph;mso-element-anchor-horizontal:column;mso-height-rule: exactly'><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>Key provisions that will affect property owners include:<o:p></o:p></span></p> <p class=MsoNormal style='mso-element:frame;mso-element-frame-hspace: 9.0pt;mso-element-wrap:around;mso-element-anchor-vertical: paragraph;mso-element-anchor-horizontal:column;mso-height-rule: exactly'><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <p class=MsoListParagraph style='text-indent:-18.0pt; line-height:115%;mso-list:l0 level1 lfo2;mso-element:frame; mso-element-frame-hspace:9.0pt;mso-element-wrap:around; mso-element-anchor-vertical:paragraph;mso-element-anchor-horizontal: column;mso-height-rule:exactly'><![if !supportLists]><span style='font-size:9.0pt;line-height:115%;font-family:Symbol; mso-fareast-font-family:Symbol;mso-bidi-font-family:Symbol'><span style='mso-list:Ignore'>·<span style='font:7.0pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><![endif]><span style='font-size:9.0pt; line-height:115%;font-family:"Arial","sans-serif"'>An obligation for individuals, companies or public bodies who provide services&nbsp; to the public whether at a cost or not, not to discriminate against those using such services.&nbsp; <o:p></o:p></span></p> <p class=MsoListParagraph style='text-indent:-18.0pt; line-height:115%;mso-list:l0 level1 lfo2;mso-element:frame; mso-element-frame-hspace:9.0pt;mso-element-wrap:around; mso-element-anchor-vertical:paragraph;mso-element-anchor-horizontal: column;mso-height-rule:exactly'><![if !supportLists]><span style='font-size:9.0pt;line-height:115%;font-family:Symbol; mso-fareast-font-family:Symbol;mso-bidi-font-family:Symbol'><span style='mso-list:Ignore'>·<span style='font:7.0pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><![endif]><span style='font-size:9.0pt; line-height:115%;font-family:"Arial","sans-serif"'>An obligation to make reasonable adjustments to ensure that a disabled person is not put at a substantial disadvantage. This includes making reasonable adjustments to the physical features of the property, taking reasonable steps to provide auxiliary aid e.g. hearing loops, handrails&nbsp; etc.<o:p></o:p></span></p> <p class=MsoListParagraph style='text-indent:-18.0pt; line-height:115%;mso-list:l0 level1 lfo2;mso-element:frame; mso-element-frame-hspace:9.0pt;mso-element-wrap:around; mso-element-anchor-vertical:paragraph;mso-element-anchor-horizontal: column;mso-height-rule:exactly'><![if !supportLists]><span style='font-size:9.0pt;line-height:115%;font-family:Symbol; mso-fareast-font-family:Symbol;mso-bidi-font-family:Symbol'><span style='mso-list:Ignore'>·<span style='font:7.0pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><![endif]><span style='font-size:9.0pt; line-height:115%;font-family:"Arial","sans-serif"'>There is an obligation on a Landlord of let premises to make reasonable adjustments in response to a request of a disabled Tenant or occupier of either residential or commercial property.<o:p></o:p></span></p> <p class=MsoNormal style='mso-element:frame;mso-element-frame-hspace: 9.0pt;mso-element-wrap:around;mso-element-anchor-vertical: paragraph;mso-element-anchor-horizontal:column;mso-height-rule: exactly'><span style='font-size:9.0pt;font-family:"Arial","sans-serif"; color:#333333'><o:p>&nbsp;</o:p></span></p> </td> </tr> </table> </td> <td width="50%" valign=top style='width:50.0%;background: white;padding:0cm 0cm 0cm 0cm'> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%" style='width:100.0%;mso-cellspacing: 0cm;mso-yfti-tbllook:1184;mso-padding-alt:0cm 0cm 0cm 0cm'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;height: 15.0pt'> <td valign=top style='background:white;padding:4.5pt 4.5pt 4.5pt 4.5pt; height:15.0pt'> <p class=MsoListParagraph style='text-indent:-18.0pt; line-height:115%;mso-list:l0 level1 lfo2;mso-element:frame; mso-element-frame-hspace:9.0pt;mso-element-wrap:around; mso-element-anchor-vertical:paragraph;mso-element-anchor-horizontal: column;mso-height-rule:exactly'><![if !supportLists]><span style='font-size:9.0pt;line-height:115%;font-family:Symbol; mso-fareast-font-family:Symbol;mso-bidi-font-family:Symbol'><span style='mso-list:Ignore'>·<span style='font:7.0pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><![endif]><span style='font-size:9.0pt; line-height:115%;font-family:"Arial","sans-serif"'>The new Act introduces a new obligation on a Landlord which is to make reasonable adjustments to common parts of buildings that contain residential units.&nbsp; A Landlord will only be required to comply with the obligation where a disabled person who is a resident of the property asks for a reasonable adjustment to be made to the common parts and where that disabled person is suffering a substantial disadvantage in their use of the common parts.&nbsp;&nbsp; There is an obligation on the Landlord to consult with the other residents who may be affected.&nbsp;&nbsp; The circumstances of the alterations will determine who will be responsible for the cost of the works. <o:p></o:p></span></p> <p class=MsoNormal style='mso-element:frame;mso-element-frame-hspace: 9.0pt;mso-element-wrap:around;mso-element-anchor-vertical: paragraph;mso-element-anchor-horizontal:column;mso-height-rule: exactly'><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <p class=MsoNormal style='mso-element:frame;mso-element-frame-hspace: 9.0pt;mso-element-wrap:around;mso-element-anchor-vertical: paragraph;mso-element-anchor-horizontal:column;mso-height-rule: exactly'><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'>Many of the obligations under the Equality Act 2010 are subject to exclusions which will be applicable in some circumstances.&nbsp; Please contact Nikki Shamash or Nikki Woolf should you need further details of the Act and whether it applies to you. <o:p></o:p></span></p> <p class=MsoNormal style='mso-element:frame;mso-element-frame-hspace: 9.0pt;mso-element-wrap:around;mso-element-anchor-vertical: paragraph;mso-element-anchor-horizontal:column;mso-height-rule: exactly'><span style='font-size:9.0pt;font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:1;mso-yfti-lastrow:yes;height:15.0pt'> <td valign=top style='background:white;padding:4.5pt 4.5pt 4.5pt 4.5pt; height:15.0pt'></td> </tr> </table> </td> </tr> </table> </div> <p class=MsoNormal style='mso-element:frame;mso-element-frame-hspace: 9.0pt;mso-element-wrap:around;mso-element-anchor-vertical:paragraph; mso-element-anchor-horizontal:column;mso-height-rule:exactly'><span style='font-size:10.0pt;font-family:"Verdana","sans-serif"; color:#1F497D'><o:p>&nbsp;</o:p></span></p> <p class=MsoNormal align=center style='text-align:center; mso-element:frame;mso-element-frame-hspace:9.0pt;mso-element-wrap: around;mso-element-anchor-vertical:paragraph;mso-element-anchor-horizontal: column;mso-height-rule:exactly'><span style='font-family:"Arial","sans-serif"'><!--[if gte vml 1]><v:shape id="Picture_x0020_8" o:spid="_x0000_i1030" type="#_x0000_t75" alt="Picture2.jpg" style='width:475.5pt;height:24.75pt'> <v:imagedata src="ebriefproperty02_2010_files/image006.jpg" o:href="cid:image013.jpg@01CABF87.A99F25B0"/> </v:shape><![endif]--><![if !vml]><img border=0 width=634 height=33 src="ebriefproperty02_2010_files/image006.jpg" alt=Picture2.jpg v:shapes="Picture_x0020_8"><![endif]><span style='color:#1F497D'><o:p></o:p></span></span></p> <p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt: auto;text-align:justify;line-height:12.0pt;mso-element:frame; mso-element-frame-hspace:9.0pt;mso-element-wrap:around; mso-element-anchor-vertical:paragraph;mso-element-anchor-horizontal: column;mso-height-rule:exactly'><a name=WhatYouShouldKnow><b><span style='font-family:"Arial","sans-serif";color:gray'>&nbsp;WHAT YOU SHOULD KNOW</span></b></a><b><span style='font-family:"Arial","sans-serif"; color:#1F497D'> </span></b><b><span style='font-family:"Arial","sans-serif"; color:gray'>|</span></b><span style='font-family:"Arial","sans-serif"'> </span><b><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; color:#1F497D'>&nbsp;Government Spending Review Impacts CRC<o:p></o:p></span></b></p> </td> </tr> <tr style='mso-yfti-irow:2;mso-yfti-lastrow:yes'> <td width="100%" valign=top style='width:100.0%;padding:4.5pt 4.5pt 4.5pt 4.5pt'> <div align=center> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%" style='width:100.0%;mso-cellspacing: 0cm;mso-yfti-tbllook:1184;mso-padding-alt:0cm 0cm 0cm 0cm'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow: yes'> <td width="50%" valign=top style='width:50.0%;background: white;padding:0cm 0cm 0cm 0cm'> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=654 style='width:490.5pt;mso-cellspacing: 0cm;mso-yfti-tbllook:1184;mso-padding-alt:0cm 0cm 0cm 0cm'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;height: 42.0pt'> <td width="100%" valign=top style='width:100.0%;padding: 4.5pt 4.5pt 4.5pt 4.5pt;height:42.0pt'> <p class=MsoNormal style='mso-margin-top-alt:auto; mso-margin-bottom-alt:auto;line-height:12.0pt;mso-element: frame;mso-element-frame-hspace:9.0pt;mso-element-wrap:around; mso-element-anchor-vertical:paragraph;mso-element-anchor-horizontal: column;mso-height-rule:exactly'><b><span style='font-size: 11.0pt;font-family:"Arial","sans-serif";color:#1F497D'><!--[if gte vml 1]><v:shape id="Picture_x0020_9" o:spid="_x0000_i1031" type="#_x0000_t75" alt="Mission Statement Image.jpg" style='width:480.75pt; height:150pt'> <v:imagedata src="ebriefproperty02_2010_files/image008.jpg" o:href="cid:image014.jpg@01CB7C07.F7532DF0"/> </v:shape><![endif]--><![if !vml]><img border=0 width=641 height=200 src="ebriefproperty02_2010_files/image008.jpg" alt="Mission Statement Image.jpg" v:shapes="Picture_x0020_9"><![endif]><o:p></o:p></span></b></p> </td> </tr> <tr style='mso-yfti-irow:1;height:15.0pt'> <td width="100%" valign=top style='width:100.0%;background: white;padding:4.5pt 4.5pt 4.5pt 4.5pt;height:15.0pt'> <div align=center> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%" style='width:100.0%;mso-cellspacing: 0cm;mso-yfti-tbllook:1184;mso-padding-alt:0cm 0cm 0cm 0cm'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes; mso-yfti-lastrow:yes'> <td width="50%" valign=top style='width:50.0%;background: white;padding:0cm 0cm 0cm 0cm'> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%" style='width:100.0%; mso-cellspacing:0cm;mso-yfti-tbllook:1184;mso-padding-alt: 0cm 0cm 0cm 0cm'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes; mso-yfti-lastrow:yes;height:15.0pt'> <td valign=top style='background:white;padding:4.5pt 4.5pt 4.5pt 4.5pt; height:15.0pt'> <p class=MsoNormal style='text-align:justify; mso-element:frame;mso-element-frame-hspace:9.0pt; mso-element-wrap:around;mso-element-anchor-vertical: paragraph;mso-element-anchor-horizontal:column; mso-height-rule:exactly'><span style='font-size:9.0pt; font-family:"Arial","sans-serif"'>The CRC, the UK-wide&nbsp; mandatory &quot;cap and trade&quot; emissions trading scheme for large businesses and public sector organisations has been subject to some key changes as part of the Government s overall Spending Review. <o:p></o:p></span></p> <p class=MsoNormal style='text-align:justify; mso-element:frame;mso-element-frame-hspace:9.0pt; mso-element-wrap:around;mso-element-anchor-vertical: paragraph;mso-element-anchor-horizontal:column; mso-height-rule:exactly'><span style='font-size:9.0pt; font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <p class=MsoNormal style='text-align:justify; mso-element:frame;mso-element-frame-hspace:9.0pt; mso-element-wrap:around;mso-element-anchor-vertical: paragraph;mso-element-anchor-horizontal:column; mso-height-rule:exactly'><span style='font-size:9.0pt; font-family:"Arial","sans-serif"'>The CRC applies to all public sector organisations and to large private sector organisations which meet the qualification criteria.&nbsp; This includes approximately 20,000 organisations that will be required to make periodic information disclosures regarding their electricity usage.&nbsp;&nbsp; Of these 20,000 organisations, those which consumed at least 6000 MWh of electricity in 2008 (approximately £500,000 in cost) will be required to meet further obligations under the scheme.&nbsp; There are about 5000 companies who will fall into this category and they will be required to purchase allowances from the Government at £12 each for every tonne of carbon dioxide they emit. <o:p></o:p></span></p> </td> </tr> </table> </td> <td width="50%" valign=top style='width:50.0%;background: white;padding:0cm 0cm 0cm 0cm'> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%" style='width:100.0%; mso-cellspacing:0cm;mso-yfti-tbllook:1184;mso-padding-alt: 0cm 0cm 0cm 0cm'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes; height:15.0pt'> <td valign=top style='background:white;padding:4.5pt 4.5pt 4.5pt 4.5pt; height:15.0pt'> <p class=MsoNormal style='text-align:justify; mso-element:frame;mso-element-frame-hspace:9.0pt; mso-element-wrap:around;mso-element-anchor-vertical: paragraph;mso-element-anchor-horizontal:column; mso-height-rule:exactly'><span style='font-size:9.0pt; font-family:"Arial","sans-serif"'>The original scheme provided for all participants to be ranked in a league table depending on their success rate at reducing their carbon emissions.&nbsp; Further, revenue generated from the allowance sales was to be returned to the best performers on the table.&nbsp; However, last week s announcement means that all revenue generated from the allowance sales will be put towards supporting the public finances.&nbsp; The estimated revenue from this is anticipated to be in excess of £1 billion a year by 2014-15.<o:p></o:p></span></p> <p class=MsoNormal style='text-align:justify; mso-element:frame;mso-element-frame-hspace:9.0pt; mso-element-wrap:around;mso-element-anchor-vertical: paragraph;mso-element-anchor-horizontal:column; mso-height-rule:exactly'><span style='font-size:9.0pt; font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <p class=MsoNormal style='text-align:justify; mso-element:frame;mso-element-frame-hspace:9.0pt; mso-element-wrap:around;mso-element-anchor-vertical: paragraph;mso-element-anchor-horizontal:column; mso-height-rule:exactly'><span style='font-size:9.0pt; font-family:"Arial","sans-serif"'>It was also announced that the first allowance sales for 2011-2012 emissions will now take place in 2012 instead of 2011 as originally anticipated.<o:p></o:p></span></p> <p class=MsoNormal style='mso-element:frame;mso-element-frame-hspace: 9.0pt;mso-element-wrap:around;mso-element-anchor-vertical: paragraph;mso-element-anchor-horizontal:column; mso-height-rule:exactly'><span style='font-size:9.0pt; font-family:"Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> </td> </tr> <tr style='mso-yfti-irow:1;mso-yfti-lastrow:yes; height:15.0pt'> <td valign=top style='background:white;padding:4.5pt 4.5pt 4.5pt 4.5pt; height:15.0pt'></td> </tr> </table> </td> </tr> </table> </div> </td> </tr> <tr style='mso-yfti-irow:2;mso-yfti-lastrow:yes;height:15.0pt'> <td width="100%" valign=top style='width:100.0%;background: white;padding:4.5pt 4.5pt 4.5pt 4.5pt;height:15.0pt'> <p class=MsoNormal style='mso-element:frame;mso-element-frame-hspace: 9.0pt;mso-element-wrap:around;mso-element-anchor-vertical: paragraph;mso-element-anchor-horizontal:column;mso-height-rule: exactly'><span style='font-family:"Arial","sans-serif"; color:#1F497D'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span><span style='font-family:"Arial","sans-serif"'>&nbsp; &nbsp; &nbsp;&nbsp;<o:p></o:p></span></p> </td> </tr> </table> </td> <td width="50%" valign=top style='width:50.0%;background: white;padding:0cm 0cm 0cm 0cm'></td> </tr> </table> </div> <p class=MsoNormal style='mso-element:frame;mso-element-frame-hspace: 9.0pt;mso-element-wrap:around;mso-element-anchor-vertical:paragraph; mso-element-anchor-horizontal:column;mso-height-rule:exactly'><span style='font-size:10.0pt;font-family:"Arial","sans-serif"; color:#1F497D'><!--[if gte vml 1]><v:shape id="_x0000_i1032" type="#_x0000_t75" alt="Picture2.jpg" style='width:475.5pt; height:24.75pt'> <v:imagedata src="ebriefproperty02_2010_files/image006.jpg" o:href="cid:image013.jpg@01CABF87.A99F25B0"/> </v:shape><![endif]--><![if !vml]><img border=0 width=634 height=33 src="ebriefproperty02_2010_files/image006.jpg" alt=Picture2.jpg v:shapes="_x0000_i1032"><![endif]><o:p></o:p></span></p> <p class=MsoNormal style='mso-element:frame;mso-element-frame-hspace: 9.0pt;mso-element-wrap:around;mso-element-anchor-vertical:paragraph; mso-element-anchor-horizontal:column;mso-height-rule:exactly'><span style='font-size:10.0pt;font-family:"Arial","sans-serif"; color:#1F497D'><o:p>&nbsp;</o:p></span></p> <p class=MsoNormal style='mso-element:frame;mso-element-frame-hspace: 9.0pt;mso-element-wrap:around;mso-element-anchor-vertical:paragraph; mso-element-anchor-horizontal:column;mso-height-rule:exactly'><b><span style='font-family:"Arial","sans-serif";color:gray'>FORTHCOMING EVENTS</span></b><b><span style='font-family:"Arial","sans-serif"; color:#1F497D'> </span></b><b><span style='font-family:"Arial","sans-serif"; color:gray'>|</span></b><span style='font-family:"Arial","sans-serif"'> </span><b><span style='font-size:11.0pt;font-family:"Arial","sans-serif"; color:#1F497D'>&nbsp;Property Breakfast</span></b><span style='font-size:10.0pt;font-family:"Arial","sans-serif"; color:#1F497D'><o:p></o:p></span></p> <p class=MsoNormal style='mso-element:frame;mso-element-frame-hspace: 9.0pt;mso-element-wrap:around;mso-element-anchor-vertical:paragraph; mso-element-anchor-horizontal:column;mso-height-rule:exactly'><span style='font-size:10.0pt;font-family:"Arial","sans-serif"; color:#1F497D'><o:p>&nbsp;</o:p></span></p> <p class=MsoNormal><span style='font-size:9.0pt;font-family: "Arial","sans-serif"'>We will be holding our next Property Breakfast at Villandry in March 2011.&nbsp; Further details will follow early in the new year.<o:p></o:p></span></p> <p class=MsoNormal><span style='font-size:9.0pt;font-family: "Arial","sans-serif"'><o:p>&nbsp;</o:p></span></p> <p class=MsoNormal><span style='font-size:9.0pt;font-family: "Arial","sans-serif"'>Corren Troen holds seminars and other breakfast events throughout the year.&nbsp; Please contact Nikki Shamash or Nikki Woolf for further details.<o:p></o:p></span></p> <p class=MsoNormal style='mso-element:frame;mso-element-frame-hspace: 9.0pt;mso-element-wrap:around;mso-element-anchor-vertical:paragraph; mso-element-anchor-horizontal:column;mso-height-rule:exactly'><span style='font-size:10.0pt;font-family:"Arial","sans-serif"; color:#1F497D'><o:p>&nbsp;</o:p></span></p> <p class=MsoNormal style='mso-element:frame;mso-element-frame-hspace: 9.0pt;mso-element-wrap:around;mso-element-anchor-vertical:paragraph; mso-element-anchor-horizontal:column;mso-height-rule:exactly'><span style='font-size:10.0pt;font-family:"Arial","sans-serif"; color:#1F497D'><o:p>&nbsp;</o:p></span></p> <p class=MsoNormal style='mso-element:frame;mso-element-frame-hspace: 9.0pt;mso-element-wrap:around;mso-element-anchor-vertical:paragraph; mso-element-anchor-horizontal:column;mso-height-rule:exactly'><span style='font-size:10.0pt;font-family:"Arial","sans-serif"; color:#1F497D'><!--[if gte vml 1]><v:shape id="Picture_x0020_10" o:spid="_x0000_i1033" type="#_x0000_t75" alt="Picture2.jpg" style='width:475.5pt;height:24.75pt'> <v:imagedata src="ebriefproperty02_2010_files/image006.jpg" o:href="cid:image013.jpg@01CABF87.A99F25B0"/> </v:shape><![endif]--><![if !vml]><img border=0 width=634 height=33 src="ebriefproperty02_2010_files/image006.jpg" alt=Picture2.jpg v:shapes="Picture_x0020_10"><![endif]><o:p></o:p></span></p> <p class=MsoNormal align=center style='text-align:center; mso-element:frame;mso-element-frame-hspace:9.0pt;mso-element-wrap: around;mso-element-anchor-vertical:paragraph;mso-element-anchor-horizontal: column;mso-height-rule:exactly'><span style='font-family:"Arial","sans-serif"'>&nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;<o:p></o:p></span></p> </td> </tr> </table> </td> </tr> <tr style='mso-yfti-irow:1;mso-yfti-lastrow:yes;height:15.0pt'> <td valign=top style='padding:0cm 0cm 0cm 0cm;height:15.0pt'> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%" style='width:100.0%;mso-cellspacing:0cm;mso-yfti-tbllook: 1184;mso-padding-alt:0cm 0cm 0cm 0cm'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow: yes'> <td width="50%" valign=top style='width:50.0%;padding:4.5pt 4.5pt 4.5pt 4.5pt'> <table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%" style='width:100.0%;mso-cellspacing: 0cm;mso-yfti-tbllook:1184;mso-padding-alt:0cm 0cm 0cm 0cm'> <tr style='mso-yfti-irow:0;mso-yfti-firstrow:yes;mso-yfti-lastrow: yes'> <td valign=top style='padding:4.5pt 4.5pt 4.5pt 4.5pt'> <p class=arttext style='line-height:12.0pt;mso-element:frame; mso-element-frame-hspace:9.0pt;mso-element-wrap:around; mso-element-anchor-vertical:paragraph;mso-element-anchor-horizontal: column;mso-height-rule:exactly'><a name=Contact><span class=apple-style-span><b><span style='color:gray'>CONTACT US</span></b></span></a><span style='color:gray'><o:p></o:p></span></p> <p class=arttext style='line-height:12.0pt;mso-element:frame; mso-element-frame-hspace:9.0pt;mso-element-wrap:around; mso-element-anchor-vertical:paragraph;mso-element-anchor-horizontal: column;mso-height-rule:exactly'><strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"; color:#333333'>Corren Troen</span></strong><span style='font-size:9.0pt;font-family:"Arial","sans-serif"; color:#333333'><br> 35 Catherine Place<br> London SW1E 6DY<br> United Kingdom<br> DX 2306 Victoria </span><span style='font-family:"Arial","sans-serif"'><o:p></o:p></span></p> <p class=arttext style='line-height:12.0pt;mso-element:frame; mso-element-frame-hspace:9.0pt;mso-element-wrap:around; mso-element-anchor-vertical:paragraph;mso-element-anchor-horizontal: column;mso-height-rule:exactly'><span style='font-size:9.0pt; font-family:"Arial","sans-serif";color:#333333'>T: +44 (0)207 592 8900<br> F: +44 (0)207 592 8901<br> Email:&nbsp;</span><span style='font-size:9.0pt;font-family: "Arial","sans-serif";color:#1F497D'><a href="mailto:reception@correntroen.com?subject=Direct%20response%20from%20CT%20Issue%201-2010%20Property%20Brief">reception@correntroen.com</a></span><span style='font-family:"Arial","sans-serif"'><o:p></o:p></span></p> <p class=arttext style='line-height:12.0pt;mso-element:frame; mso-element-frame-hspace:9.0pt;mso-element-wrap:around; mso-element-anchor-vertical:paragraph;mso-element-anchor-horizontal: column;mso-height-rule:exactly'><span style='font-size:9.0pt; font-family:"Arial","sans-serif";color:#333333'>Please visit our website at&nbsp;<a href="http://www.correntroen.com/" target="_blank"><b>www.correntroen.com</b></a></span><o:p></o:p></p> </td> </tr> </table> </td> <td width="50%" valign=top style='width:50.0%;padding:4.5pt 4.5pt 4.5pt 4.5pt'> <p class=MsoNormal style='mso-element:frame;mso-element-frame-hspace: 9.0pt;mso-element-wrap:around;mso-element-anchor-vertical:paragraph; mso-element-anchor-horizontal:column;mso-height-rule:exactly'><!--[if gte vml 1]><v:shape id="Picture_x0020_11" o:spid="_x0000_i1034" type="#_x0000_t75" alt="Property Footer Visual.jpg" style='width:280.5pt; height:177pt'> <v:imagedata src="ebriefproperty02_2010_files/image009.jpg" o:href="cid:image023.jpg@01CAF043.9F4D5180"/> </v:shape><![endif]--><![if !vml]><img border=0 width=374 height=236 src="ebriefproperty02_2010_files/image009.jpg" alt="Property Footer Visual.jpg" v:shapes="Picture_x0020_11"><![endif]><o:p></o:p></p> </td> </tr> </table> </td> </tr> </table> </div> </td> </tr> <tr style='mso-yfti-irow:1'> <td valign=top style='padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal align=center style='mso-margin-top-alt:auto; mso-margin-bottom-alt:auto;text-align:center;line-height:12.0pt; mso-element:frame;mso-element-frame-hspace:9.0pt;mso-element-wrap: around;mso-element-anchor-vertical:paragraph;mso-element-anchor-horizontal: column;mso-height-rule:exactly'><a href="http://www.correntroen.com/" target="_blank"><span style='text-decoration:none;text-underline:none'><!--[if gte vml 1]><v:shape id="Picture_x0020_12" o:spid="_x0000_i1035" type="#_x0000_t75" alt="cid:15.3395412279@web26005.mail.ukl.yahoo.com" style='width:105.75pt; height:10.5pt'> <v:imagedata src="ebriefproperty02_2010_files/image010.gif" o:href="cid:15.3395412279@web26005.mail.ukl.yahoo.com"/> </v:shape><![endif]--><![if !vml]><img border=0 width=141 height=14 src="ebriefproperty02_2010_files/image010.gif" alt="cid:15.3395412279@web26005.mail.ukl.yahoo.com" v:shapes="Picture_x0020_12"><![endif]></span></a><!--[if gte vml 1]><v:shape id="Picture_x0020_13" o:spid="_x0000_i1036" type="#_x0000_t75" alt="Picture2.jpg" style='width:475.5pt;height:26.25pt'> <v:imagedata src="ebriefproperty02_2010_files/image011.jpg" o:href="cid:image021.jpg@01CABF87.A99F25B0"/> </v:shape><![endif]--><![if !vml]><img border=0 width=634 height=35 src="ebriefproperty02_2010_files/image011.jpg" alt=Picture2.jpg v:shapes="Picture_x0020_13"><![endif]><o:p></o:p></p> </td> </tr> <tr style='mso-yfti-irow:2'> <td valign=top style='padding:0cm 0cm 0cm 0cm'> <p class=MsoNormal align=center style='mso-margin-top-alt:auto; mso-margin-bottom-alt:auto;text-align:center;line-height:12.0pt; 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