RNS announcement

24 September 2018

Palace Capital PLC

("Palace Capital" or the "Company")

Dividend Declaration

Palace Capital (LSE: PCA), the property investment company that focusses on commercial property outside of London, is pleased to announce that it will pay a quarterly dividend of 4.75 pence per ordinary share on 19 October 2018 to shareholders on the register as at 5 October 2018. The dividend is in respect of the three months ended 30 June 2018.

For further information, contact:

Palace Capital plc

Neil Sinclair, Chief Executive

Stephen Silvester, Finance Director

Tel. 44 (0)20 3301 8331

Arden Partners plc (Lead Broker)

Chris Hardie / Ciaran Walsh / Alex Penney

Tel. 44 (0)207 614 5900

Allenby Capital Limited (Joint Broker)

Nick Naylor / James Reeve / Asha Chotai

Tel. 44 (0)20 3328 5656

FTI Consulting (Financial PR)

Claire Turvey / Methuselah Tanyanyiwa

palacecapital@fticonsulting.com

Tel. 44 (0)20 7271000

About Palace Capital plc (www.palacecapitalplc.com):

Palace Capital is a UK property investment company admitted to trading on the London Stock Exchange plc's main market (LSE: PCA). The Company is not sector specific and looks for opportunities where it can enhance the long-term income and capital value through asset management and strategic capital development in locations outside London. In its last reported financial year, Palace Capital produced a 27% increase in adjusted profit before tax, a 7% uplift in EPRA NAV per share from a post fundraise proforma base and a 3% increase in dividends for the year ending 31 March 2018.