Disposal

Pittards PLC
29 June 2007

Pittards plc



Pittards Plc, producers of technically advanced leather for many of the world's
leading brands of gloves, shoes, luxury leathergoods and sports equipment,
announces that it has today exchanged contracts for the sale and leaseback of
its principal operating site in Yeovil.



The Company has sold the site for £3.1million, payable in cash on completion and
has agreed to enter into a lease for a term of 10 years at an initial annual
rent of £254,000 pa. Pittards will benefit from a rent free period of 6 months.



The sale of the property realised a profit over net book value of £0.49million
before transaction costs. The net proceeds will be applied to repay the loan
plus accrued interest due to the Trustees of the Pittards pension schemes. The
loan is secured on the Yeovil property as part of the agreement reached with the
Board of the Pension Protection Fund in early 2006.



Enquiries:


Stephen Boyd, Chairman, Pittards Plc                        Tel:  [phone]

John Wakefield, Director, Blue Oar Securities Plc           Tel:  [phone]




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