Change of Adviser

Milestone Group PLC
07 October 2004


For Immediate release                                  7th October 2004
                                               
                              Milestone Group PLC

                               Change of Adviser

Milestone Group PLC announces that it has appointed Arden Partners Limited as
its NOMAD, financial adviser and broker with immediate effect.


- Ends -


For Further Information

Andy Craig, Chief Executive
Brian Chester, Finance Director
Milestone Group PLC                                         01235 547800

Richard Day
Arden Partners                                              020 7398 1632

Bobby Morse
Buchanan Communications                                     020 7466 5000


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