Disposal - Amendment

Creightons PLC 8 January 2001 The issuer has made the following amendment to the 'Disposal of freehold property for £1.24 million' announcement released on 7 December 2000 at 12:12 under RNS No 4125V. The name of the purchaser should be D&A (1085) Limited, a wholly owned subsidiary of Brecon Developments Limited, rather than Brecon Developments Limited as previously stated. All other details remain unchanged. The full corrected version is shown below. Creightons plc ('Creightons' or 'the Company') Disposal of freehold property for £1.24 million Creightons announces that it has entered into a contract conditional only on shareholder approval to dispose of its freehold interest in Units 7-11 and 18 and 19 Water Lane Industrial Park, Storrington, West Sussex (the 'Property') which currently houses part of the manufacturing operation of the Group to D&A (1085) Limited, a wholly owned subsidiary of Brecon Developments Limited, for a cash consideration of £1.24 million (excluding expenses). The manufacturing plant and equipment will be relocated as part of a streamlining exercise on the remaining site. Under the terms of the agreement Creightons is to give vacant possession of the Property on or before completion. A 10 per cent. deposit has been received from the purchaser by the Company's solicitors, with the balance of the consideration due on completion, which will take place no later than 31 March 2001. The Property, which comprises approximately 4,095 sq m (44,076 sq ft) of existing factory and office buildings situated on 0.64 hectares (1.59 acres) of land, was recently independently valued at £1.24 million. The net proceeds of the transaction will be used to reduce the Company's bank indebtedness. A circular containing details of the transaction and convening an Extraordinary General Meeting, due to be held in January 2001, will be posted to shareholders shortly. The sale of the Property is in accordance with the Board's previously announced strategy. Contacts: William McIlroy Creightons plc (01903) 745 611 Andrew Ross Strand Partners Limited (020) 7409 3494

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Creightons (CRL)
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