EGM Statement

Pathfinder Properties PLC
12 January 2005


FOR IMMEDIATE RELEASE                                            12 January 2005



     Pathfinder Properties PLC ('Pathfinder', the 'Group' or the 'Company')
                     Extraordinary General Meeting ('EGM')

At the EGM of the Company held today the Ordinary Resolution concerning the
Group's River Quay development in Manchester was passed.

A poll was carried out and the results were as follows:

In favour:

By proxy                                 10,496,587
By voting in person (1 shareholder)          17,348

TOTAL                                    10,513,935

Against:

By proxy                                  5,230,511
By voting in person (3 shareholders)      1,847,881

TOTAL                                     7,078,392

Kerrington Ltd and Sunnyview Ltd, which are companies owned by Mr Lee and 
Mr Azouz, each holding 8,467,219 shares in Pathfinder, abstained from voting.

ENDS

Contact:    Roland Cornish, Beaumont Cornish Limited on 020 7628 3396
            Gerry Lee, Pathfinder Properties PLC on 020 8731 0110




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