Property Valuation

Pathfinder Properties PLC
12 November 2004


FOR IMMEDIATE RELEASE                        12 November 2004


           Pathfinder Properties PLC ('Pathfinder' or the 'Company')
                               Property Valuation


The Directors of Pathfinder have received a valuation for the site at River
Quay, Owen Street, Manchester as requested by shareholders at the Annual General
Meeting.


The market value of the unencumbered freehold interest in the site on the basis
of the detailed planning consents for phases 1 and 2 and 'hope value' for
residential development with an element of commercial on phases 3 and 4:


Phase 1 £4,750,000
Phase 2 £5,600,000
Phase 3 £2,300,000
Phase 4 £2,900,000


Total: £15,550,000



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






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