Barratt Developments PLC

Capital/Financing Update • Oct 11, 2012

11th October, 2012

COMPANY ANNOUNCMENT

The following is a Company Announcement issued by GAP Developments p.l.c. ("the Company") pursuant to Listing Rule 5.16

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GAP Developments p.l.c. announces that during the month of September 2012 it repurchased 1,386,030 7% Euro Secured Bonds 2011 - 2013 from its bondholders and this as permitted by the Company Prospectus dated the 21st March, 2007. All Bonds so purchased by the Company are being cancelled.

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Paul Attard Company Secretary

Gap Holdings Head Office Censu Scerri Street, Tigné Sliema SLM 3060 Malta.

Tel. +356 2327 1000 Fax. +356 2327 1210 E-mail. info@gap.com.mt www.gap.com.mt www.fortcambridge.com