Acquisition

Conygar Investment Company PLC(The)
04 October 2006


                       THE CONYGAR INVESTMENT COMPANY PLC


                ACQUISITION OF LONDON OFFICES FOR £33.9 MILLION


The directors of the Conygar Investment Company PLC ('Conygar' or the 'Company')
are pleased to announce that Conygar Strand Limited, ('CS Limited') has
exchanged contracts to acquire eight buildings in Buckingham Street, London WC2
for a total cash consideration (including costs) of £33.9 million.


The Company will invest an estimated £3.46 million in CS Limited to satisfy the
consideration due and the related costs of the acquisition.  The Royal Bank of
Scotland will provide a £29 million non-recourse structured finance facility to
CS Limited.  The balance of the consideration due will be satisfied from a third
party investment in CS Limited.  Conygar's investment in CS Limited will be
satisfied out of existing cash resources.  Conygar will be entitled to 70 per
cent of any profit realised.


The properties comprise approximately 54,000 sq ft of freehold single and
multi-let office accommodation of which 36.000 sq ft is currently let to around
twenty tenants and generates an income of approximately £1 million per annum.
Of the remaining 18,000 sq ft, the Company is in advanced letting negotiations
in respect of some 11,000 sq ft whilst the remaining 7,000 sq ft will be
refurbished and then re-let.


Completion is expected to occur within ten working days.


The properties offer significant active management potential which Conygar
intends to exploit and realise within the next twenty four months.


Robert Ware, Chief Executive of Conygar, commented:


'This is another excellent opportunity for Conygar to add and realise
significant value using our property management skills to restructure the
portfolio which will then be disposed of in individual lots.'


For further information please contact:


The Conygar Investment Company PLC


Robert Ware                               020 7408 2322

Steven Vaughan                            020 7408 2322


Deloitte Corporate Finance


Richard Collins                           020 7936 3000


The directors of Conygar accept responsibility for the information contained in
this announcement. To the best of the knowledge and belief of the directors of
Conygar (who have taken all reasonable care to ensure that such is the case) the
information contained in this announcement is in accordance with the facts and
does not omit anything likely to affect the import of such information.


                      This information is provided by RNS
            The company news service from the London Stock Exchange