Disposal of Property

Derwent Valley Holdings PLC
23 April 2001



                         DERWENT VALLEY HOLDINGS PLC

                 £21.725m sale of Hammersmith Office Building


Derwent Valley Holdings Plc (through its subsidiary Derwent Valley Property
Investments Ltd) has exchanged contracts to sell the freehold of Hythe House,
200 Shepherds Bush Road, Hammersmith W6 for £21.725m to Alecta
pensionsforsakring, omsesidigt.


Derwent Valley acquired the 5,134 sq m (55,250 sq ft) office building in 1996
as a leasehold interest and subsequently bought in the freehold prior to
extensively refurbishing the property in 1998. There are four tenants,
including Swissair, with leases having 13 years to run. Current income is £
1,564,000 per annum.


Commenting on the transaction John Burns, Managing Director, said:


'This sale has been achieved at a satisfactory surplus to year-end book value,
following our refurbishment and letting programme.'


                                                                 23 April 2001


ENQUIRIES:

Derwent Valley Holdings plc                                  Tel: [phone]
John Burns, Managing Director

College Hill                                                 Tel: [phone]
Gareth David                                Email: [e-mail]
Lisa Pearson                                Email: [e-mail]