Trading Update

15 July 2009

                 Panther Securities PLC ("Panther" or "Group")                 
                                Trading update                                 

Panther Securities PLC is pleased to provide an update on the financial
derivatives liability as at 30 June 2009 and details of two recent
acquisitions.

Financial Derivatives

There is significantly lower liability in the financial derivatives to be
included in the interim results for the six months to 30 June 2009, which we
anticipate to release at the end of September 2009. This reduction in liability
will result in a contribution to profits of approximately £5.7 million
(ignoring any deferred tax effect) for the six month period. Financial
derivatives show a combined liability of approximately £6.3 million on their
valuation as at 30 June 2009, compared to the combined liability of £12.0
million as at 31 December 2008 (being the date of the latest audited accounts).
As mentioned previously by the Board, the valuations of financial derivatives
are based on future estimates of interest rates, which can be very erratic
(especially in the current economic climate) and have changed dramatically
recently over short periods. However, the Board believes these are an effective
hedge for the borrowings of the Group and that it is unlikely that the Group
will pay to exit these financial instruments.

GNE Group

The Group has purchased a small group of companies from GNE Group Ltd
(previously GNE Group PLC) which was recently the subject of a takeover and
subsequently delisted from the London Stock Exchange. The small group of
companies purchased by Panther owns five properties which all are former petrol
stations where permissions for change of use and redevelopment have been
obtained. A nominal value was paid for the shares of the holding company of the
group of companies and £1,400,000 was paid to acquire debt due to GNE Group at
a discount.

The five properties mentioned above include two recently completed freehold
investments. The first is a convenience store located in Stoke-on-Trent,
currently let to United Co-Operative Foodstores. The second, located in
Stockon-on-Tees, is a development of three retail units and six flats (one flat
sold on a long lease). The commercial properties have new 15 year leases and
the residential properties, on assured short-hold tenancies, produce rental
income of approximately £120,000 p.a.

The three undeveloped freehold sites all have residential planning permissions
as detailed below:

Nelson, South Wales - a mixed residential planning scheme of 11 units;
Birmingham - a 6,000 sq ft convenience store with 18 flats above ; and
Glasgow - outline planning for a retail unit with 7 flats above.

Panther intends to sell the two investment properties and is hoping to recoup
approximately 90 per cent. of the purchase cost. The Group will hold the
undeveloped sites until the residential market recovers or seek alternative
uses which may be immediately profitable.

East Sussex Leisure Complex

In an unrelated transaction, Panther has acquired, subject to delivery of
certain legal documents, a private property company which owns a freehold
modern, purpose built 70,000 sq ft leisure complex in East Sussex. The
completion is expected in the next few days. The property is let to various
tenants, including JD Wetherspoon and Domino's Pizza, and has total annual
income of £240,000. Panther is acquiring the company for nominal consideration
and is purchasing (at a discount) the debt due to the original developer for £
470,000, being the approximate net asset value of the company after
adjustments. Panther values the property at approximately £2,200,000 (including
costs) and is taking on the bank term loan of approximately £1,700,000 within
the company. The property contains two vacant units which provide an
opportunity to increase the rental return, although one of the unit's rent is
currently covered by way of a guarantee.

Andrew Perloff, Chairman, commented:

"These are exciting deals both with `angles' which should benefit the Group
immediately and additionally in the future. We continue to seek out similar
opportunities."

For further information contact:

Panther Securities PLC                                            020 7278 8011
                                                                               
Andrew Perloff - Chairman                                                      
                                                                               
Simon Peters - Finance Director