Statement re Possible Offer

Derwent Valley Holdings PLC
18 November 2003



                          DERWENT VALLEY HOLDINGS PLC

                          Statement re. Possible Offer

Derwent Valley Holdings plc ("Derwent Valley") notes the announcement this
morning by Winten Limited, a company advised by REIT Asset Management, stating
that it owns 2.87 per cent of the issued share capital of Derwent Valley and
that it is considering an offer for the entire share capital of Derwent Valley.

No offer proposal has been received by Derwent Valley. However, it is the
Company's normal practice to meet shareholders of the Company should they
request a meeting. In this regard, a meeting has been arranged for this
afternoon, following a request made by REIT Asset Management.

If appropriate, a further announcement will be made in due course.

                                                                18 November 2003

Enquiries:

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

College Hill                                             Tel: [phone]
Alex Sandberg
Gareth David




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