- Merge of Bonds

GAP Developments plc announced on 12 September that on 19 September 2008 the GAP Developments plc 7% Lm Secured Bonds 2011-2013 and the GAP Developments plc 7% Euro Secured Bonds 2011-2013 will be merged.  The merged Bond will be designated as the GAP Developments plc 7% Euro Bond 2011-2013.

Trading in the Lm bonds will be suspended between the 16 and the 18 September 2008.

The Bond will be denominated in €1, therefore the present Euro Bond will no longer trade in multiples of 100.

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