TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Starwood European Real Estate Finance Limited

2 Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights		Yes
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments
An event changing the breakdown of voting rights
Other (please specify):

3. Full name of person(s) subject to the notification obligation:

F&C Asset Management plc

4. Full name of shareholder(s) (if different from 3.):

See box 9 below

5. Date of the transaction and date on which the threshold is crossed or reached:

14^th March 2014

6. Date on which issuer notified:

17^th March 2014

7. Threshold(s) that is/are crossed or reached:

5.31%

8. Notified details:
A: Voting rights attached to shares
Class/type of shares if possible using the ISIN CODE	Situation previous to the triggering transaction		Resulting situation after the triggering transaction
	Number of Shares	Number of Voting Rights	Number of shares	Number of voting rights		% of voting rights
			Direct	Direct	Indirect	Direct	Indirect
GG00B79WC100GBP 0.01	9,652,578	9,652,578	12,652,578		12,652,578	-	5.31%

B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument	Expiration date	Exercise/ Conversion Period	Number of voting rights that may be acquired if the instrument is exercised/ converted.	% of voting rights
-

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument	Exercise price	Expiration date	Exercise/ Conversion period	Number of voting rights instrument refers to	% of voting rights
-					Nominal	Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

12,652,578

5.31%

9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable:

F&C Asset Management plc - Client :

No. of voting rights

% of total voting rights

Registration name

TR Multi Capital-Funds ICVC

F&C MM Navigator Distribution

12,600,000

5.29%

Harewood Nominees Ltd

Other client holdings are below 3%

Proxy Voting:

10. Name of proxy holder:

F&C Asset Management plc

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:

Based on total voting rights of 238,100,000

14 Contact name:

Vik Sharma, F&C Asset Management plc

15. Contact telephone name:

0131 718 1094