Disposal of Property Portfolio for £4.5M

Property & Capital Group PLC
8 March 2000

Property & Capital Group Plc (the 'Group')

Disposal of Property

The Group announces that to fund investment in other areas and property
acquisitions, while at the same time reducing gearing, it yesterday disposed
at auction of 99 small tenanted flats and houses spread over a wide area of
the North of England.

Sale consideration totalled £4.5 million.  These properties, carried within
the Group's assets after revaluation, at vacant possession value of £4.4
million, were originally acquired by the Group and by the Group's recent
acquisition PCG Residential Lettings Holdings PLC, at an aggregate price of
£4.1 million.