Circ re EGM

Pathfinder Properties PLC
19 January 2004





                           Pathfinder Properties PLC

                            Circular to shareholders



The Company has posted a circular to shareholders dated 16 January 2004
explaining why shareholders should vote against the resolutions to be proposed
at the Extraordinary General Meeting to be held on 22 January 2004.

Copies of circulars relating to the Extraordinary General Meeting are available
from Pathfinder Properties PLC, Capital House, Michael Rd, London SW6 2YH.



                                                           Dated 19 January 2004


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