Acquisition

Capitaltech PLC
26 September 2001



                        CapitalTech plc - Acquisition

CapitalTech announces that on 26 September 2001 it purchased from its Joint
Venture Partner ('JVP') the JVP's 50% interest in PCG Residential Lettings
(No.9) Limited ('PCG').  PCG carries on the business which it acquired in
terms of an announcement made on 23 July 2001 which is appended to this
announcement.

The consideration payable by CapitalTech is £275,000 in cash in light of the
fact that that the original acquisition by PCG was substantially financed by
bank borrowings.  In addition, CapitalTech is repaying JVP's shareholders'
loan of £675,000 in cash.

CapitalTech has acquired the full interest in PCG as not only are rentals
being maintained at the expected level, providing a gross yield of
approximately 13% on property cost, but initial sales of vacant properties
indicate that the properties are re-sellable at some 15% above cost.


Appendix

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.


END

26th September 2001