Contracts Exchanged for Hammersmith Property Sale

CRESTON PLC
28 October 1999

Creston plc announces that it has today exchanged contracts to sell 275/281
King Street, Hammersmith, London W6 for £3,200,000. A deposit of £320,000 was
paid in cash by the purchaser on exchange of contracts and the balance is
payable in cash on completion on 25 November 1999. The property comprises an
office building totalling 20,345 square feet let to three tenants at rents
totalling £311,484 per annum. The book value of the property is £2,850,000.
The sales proceeds will be applied to the reduction of borrowings.