Successful Letting of New HQ Office Building

Cardiff Property PLC
3 February 2000


           SUCCESSFUL LETTING OF NEW HEADQUARTERS OFFICE BUILDING IN 
                        SURREY TO RETAIL DECISIONS PLC

Cardiff Property is pleased to announce that First Choice Estates Plc, a wholly
owned subsidiary, has completed the letting of its new headquarters office
building known as 'The Clock Tower' at Brookwood, Surrey to Retail Decisions
plc.

First Choice acquired the property in August 1997 and following a revision of
the existing planning permission commenced the development of a new 16,000 sq ft
net office building.  The Clock Tower, situated between Guildford and Woking,
stands in approximately 1 acre of landscaped grounds and provides over 80 car
parking spaces.  The opportunity exists for a further 3,000 sq ft net office
space subject to planning.  Retail Decisions will use the building for its
rapidly growing UK operation which provides transaction services to many blue
chip retailers including the fast growing e-commerce arena. 

The building has been let on an institutional lease for a term of 20 years at a
rental of £390,000 per annum. 

Further information
Richard Wollenberg          Chairman                      01784 437444
Will Martin                 Albert E Sharp Securities     020 7489 4600 
Brian Coleman-Smith         Binns & Company               020 7786 9600