Development Contract

Sutton Harbour Holdings PLC
07 April 2005


For Immediate Release                                               7 April 2005

       Sutton Harbour Holdings plc ( 'Sutton Harbour' or 'the Company' )

Sutton Harbour has signed an agreement with Land Securities Trillium to develop
a substantial office building in the centre of Plymouth.

The construction of the building, due for completion in Q2 2006, is expected to
cost approximately £11.5 million, which will be financed through a new and
separate debt facility.

Once completed, the building will be occupied by the Department of Work and
Pensions. The offices will be let on a 15 year lease and the Company will 
receive initial rental income of £14.25 per square foot.

Contacts:

Nigel Godefroy, Managing Director,
Sutton Harbour Holdings plc             01752 204186
Michelle Andrews, Williams de Broe      020 7588 7511
Ken Rees, Binns Winningtons             0117 920 0092
Or mobile                               07802 466567


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