Disposal - Replacement

Paragon Group Of Companies PLC
26 October 2004


The following amendment has been made to the 'Disposal' announcement released 
today at 10:38 under RNS No 4716E.

Within the last sentence the word 'securities' should read 'securitise'.

All other details remain unchanged.

The full amended text is shown below.




                       DISPOSAL OF NHL REVERSIONS LIMITED

The Board of The Paragon Group of Companies PLC announces that it has disposed
of the entire share capital of NHL Reversions Limited for £2.04m, payable in
cash by Sovereign Reversions plc, an AIM listed Home Reversions company. Of
the consideration, approximately £0.9m represents a profit on disposal. NHL
Reversions comprises a portfolio of 27 home reversions originated in the early
1990s. Paragon has disposed of its interest because the activity is non-core,
the portfolio's scale makes administration uneconomic for Paragon and the
ownership structure does not fit with Paragon's desire to securitise all
receivables.

Enquiries:


Nick Keen, Finance Director 
0121 7122060
 




                      This information is provided by RNS
            The company news service from the London Stock Exchange