Termination of Discussions

Pathfinder Properties PLC
02 February 2004

                    Pathfinder Properties PLC ('Pathfinder')

                           Termination of Discussions


Further to the announcement made on 9th January 2004 and following discussions
with the Company's Nominated Adviser, Nabarro Wells & Co. Ltd, the Board of
Pathfinder announces that it has decided to terminate the process of seeking
potential investors in the Company as it considers that there is no longer any
significant prospect of a transaction arising which would be in shareholders'
interests.

                                                           Dated 2 February 2004




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