Issue of Equity

Pathfinder Properties PLC
27 August 2003

FOR IMMEDIATE RELEASE



                                 27 August 2003


                           PATHFINDER PROPERTIES PLC



                        ('PATHFINDER' OR 'THE COMPANY')





The Board of Pathfinder announces that, on 26 August 2003, the Company allotted
75,775 ordinary shares of 10p each in exchange for 9,185 ordinary shares of £1
each in Pathfinder Recovery 1 Limited. The issued share capital of the Company
following the allotment is £7,997,139.30 divided into 79,971,393 ordinary shares
of 10p each.  The Company's interest in Pathfinder Recovery 1 Limited is now
95.98% of the issued share capital of that company (previously 95.88%).



Enquiries:



Malcolm Bacchus, Pathfinder Properties PLC [phone]


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