Result of EGM

Pathfinder Properties PLC
27 January 2004

FOR IMMEDIATE RELEASE
        27 January 2004

                   ANNOUNCEMENT TO THE LONDON STOCK EXCHANGE

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

                    Result of Extraordinary General Meeting


At the reconvened Extraordinary General Meeting of the Company held at 2.00 p.m.
today the Chairman announced that the result of the poll taken on all the
resolutions proposed at the Extraordinary General Meeting held on 22 January
2004 was that all such resolutions were passed. Accordingly John Richard Parry,
Malcolm Graham Bacchus, George Annan Heggie and Claire Antonette O'Connor have
ceased to be directors of the Company with immediate effect and Edward Azouz
(age 54), Jeffrey Azouz (age 57) and John Guy Davies (age 57) have been
appointed as directors of the Company, also with immediate effect.

Details of Mr. Edward Azouz's current and past directorships are as follows:

Current directorships                                Past directorships (within 5 years)

Splashpoint Limited                                  Trendmode Limited
Lionpride Limited                                    Salecross Limited
Icetone Limited                                      Mast Leisure Developments Limited
A.R. & V. Investments Limited                        Batsons Developments Limited
Central Estates Limited                              Checkgrove Limited
Questview Limited                                    Downbush Limited
Ovaline Limited                                      Northband Limited
Packamist Limited                                    Gatespring Limited
Old Marylebone Investments Limited                   Deanedge Limited
Little Adelphi Developments Limited                  Moonrise Properties Limited
Limebase Limited                                     Overbase Limited
Highmaze Limited                                     Speedwish Limited
Ravenlodge Limited                                   Pom-Pom Designs Limited
Palmbase Limited                                     Acute Properties Limited
Roamquest Limited                                    Finebury Properties Limited
Ravenprime Limited                                   Breepark Limited
Dollar Bay Investments Limited                       Shinemode Limited
Saxonbuild Limited                                   Oldmead Limited
Vineward Limited                                     Richchoice Limited
Transhorn Limited
A.R. & V. Developments Limited
Sellside Limited
Winefold Limited
Gemcode Limited
Wardwine Limited
Arcbuild Limited
Clubpoint Limited
A.R. & V. Properties Limited
Harpbrand Limited
Noterange Limited
Targetplace Limited
Covertrend Limited
Repairgoal Limited
Axelcover Limited
Dualtime Limited
Widenok Limited
Harley House (Marylebone) Limited
Diamondhill Limited
Harley House Investments Limited
Theorymaster Limited
Sunnyview Limited
Honeytown Limited
Firmtake Limited
Placesafe Limited
Leabonds Limited



Details of Mr. Jeffrey Azouz's current and past directorships are as follows:


Current directorships                                Past directorships (within 5 years)

A.R. & V. Investments Limited                        Salecross Limited
Linktree Limited                                     Mast Leisure Developments Limited
Questview Limited                                    Edenbridge Limited
Central Estates Limited                              Gatespring Limited
Highmaze Limited                                     Trendmode Limited
Palmbase Limited                                     Overbase Limited
Saxonbuild Limited                                   Breepark Limited
A.R. & V. Developments Limited                       Highcone Limited
A.R. & V. Properties Limited                         Shinemode Limited
Harpbrand Limited                                    Noterange Limited
Lionpride Limited
Ovaline Limited
Honeytown Limited
Sunnyview Limited
Proudfirm Limited
Firmtake Limited
Placesave Limited
Leabonds Limited



Details of Dr. John Guy Davies' current and past directorships are as follows:


Current directorships                                Past directorships (within 5 years)

None                                                 JSC Altel
                                                     Exonet Communications S.A.



There are no other matters which are required to be announced with regard to
these appointments as required by paragraph (f) of Schedule 2 of the AIM rules.


This announcement will be available for inspection on the Company's website
(www.pathfinderplc.com).


For further information:

Edward Azouz, Pathfinder Properties PLC [phone]

Robert Lo/Marc Cramsie, Nabarro Wells & Co. Limited [phone]


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