Placing and Dealings

Cater Barnard PLC
21 April 2004

FOR IMMEDIATE RELEASE

                                                                   21 April 2004

                                CATER BARNARD PLC
                       ('Cater Barnard' or 'the Company')

                    Update on Placing and Directors' Dealings


On 3 March 2004, Cater Barnard announced that it had conditionally agreed to
issue new Ordinary Shares of 0.1p each ('Ordinary Shares'), conditional on
approval by shareholders of Resolution 6 at the Annual General Meeting of the
Company on 12 March 2004 (the 'AGM').

Following the approval of Resolution 6 at the AGM, the Company announces that on
8 April 2004 the Company issued 85,798,417 new Ordinary Shares of 0.1p each (the
'Placing') at an issue price of 0.316p per new Ordinary Share (the 'Placing
Price'), raising £266,122.99 after expenses for additional working capital.

David Williams and Aidan Mills-Thomas, both directors of the Company, each
acquired 15,000,000 new Ordinary Shares under the Placing at the Placing Price.
David Williams is now beneficially interested in 52,636,072 Ordinary Shares and
Aidan Mills-Thomas is now beneficially interested in 45,784,149 Ordinary Shares,
representing approximately 4.39% and 3.82% respectively of the Company's
enlarged issued share capital.

The Company has also been informed that:

   • Ethel Austin Investment Properties Limited is now interested in
    127,000,000 Ordinary Shares, representing approximately 10.59% of the
    Company's enlarged issued share capital; and

   • Paul Whight is now beneficially interested in 78,497,627 Ordinary
    Shares, representing approximately 6.55 % of the Company's enlarged issued
    share capital.


Enquiries:

Aidan Mills-Thomas                 Michael Cornish
Director                           Beaumont Cornish Limited
Cater Barnard plc                  Tel: [phone]
Tel: [phone]




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