Disposal

Hill & Smith Hldgs PLC
23 January 2001

SALE & LEASEBACK AND DISPOSAL



The Board of Hill & Smith Holdings PLC is pleased to announce that, in line
with its strategy of reducing debt by disposal of investment and other
properties, it has contracted for the sale and leaseback of the site at
Telford occupied by Eurogrid Limited and Access Design and Engineering
Limited.  Completion is set for tomorrow.



The sale and leaseback has been entered into with Brentside Investments
Limited.  The net book value of the property was £2.6m at 31 December 2000 and
it will be sold for £2.8m after allowing for costs.  The lease is for a term
of 20 years at an initial rent of £242,000, which will be subject to 5 yearly
reviews, representing an annual yield of 8.6%.



This follows the sale in December 2000 of the Streetly investment property for
£1.6m.  The debt of the Group will be reduced by £4.4m as a result of these
two transactions.





For further information, please contact:


Hill & Smith Holdings PLC                         Tel:  [phone]
Howard Everett, Company Secretary

Rawlings Financial PR Limited                     Tel:  [phone]

Catriona Valentine