Acquisition

Capitaltech PLC
23 July 2001



CapitalTech plc ('CapitalTech' or 'the Company')

Acquisition of Properties


CapitalTech announces that on 23 July 2001 it entered into a binding contract
to acquire as a going concern the ownership and letting business of, 220 flats
in Glasgow at an aggregate price of £7.845 million.  The flats are
predominantly let on short assured tenancies and provide aggregate rental of £
1.04 million per annum.  The acquisition will be completed through a joint
venture vehicle in which CapitalTech has a 50% interest, PCG Residential
Lettings (No. 9) Limited ('PCG') and a new subsidiary of PCG.  The
consideration, which is being satisfied by the issue of securities of the
subsidiary of PCG, represents the value of these assets.


Ross Macdonald, Chief Executive of CapitalTech commented:

'The acquisition further focuses the property portfolio of CapitalTech in
Scotland, and in particular Glasgow, where we believe there are significant
opportunities for high rental yield and capital appreciation.  This should
entail a positive effect on the profitability and net asset value of the
Company'.


Contacts:    Ross Macdonald, CapitalTech plc                    0141 332 2014
             Alasdair Robinson, Noble & Company Limited         0131 225 9677