Further re REIT proposal

Gresham House plc

In the Chairman's Statement accompanying the interim results covering the half-
year to 30th June 2006, which was sent to shareholders on 28th September 2006,
the chairman indicated, following his statement of 27th March 2006 announcing
the intention to de-merge the property investment interests of the Group into a
REIT, that this process was moving forward albeit slower than had originally
been anticipated.  Since that announcement, Parkwood Property Investments LLP
("Parkwood") announced that it had acquired 1,463,063 Ordinary Shares in the
Company (representing 29.9% of the existing issued share capital). Parkwood have
indicated that they would not support the de-merger of the property investment
interests into a REIT and, therefore, the Board has decided not to pursue this
any further at the present time.

However, the Board remains of the view that the separation of the property
investment interests remains in the best interest of shareholders as a whole and
the board is currently examining ways to achieve such an outcome.

Further Information:

Alfred Stirling
(Chairman - Gresham House plc)  020 7588 7352

Toby Hall
(GTH Media Relations)  020 7153 8039 / 020 7153 8035

6th February 2007