Offer Acceptance/ Extension

Property & Capital Group PLC
7 January 2000


OFFER FOR PARAGON PROTECTED GROWTH PLC

As at 3.00pm today, the offer by Property & Capital Group PLC for the entire
share issued capital of Paragon Protected Growth PLC had reached an acceptance
level of 71.62% and this offer has been extended 3.00pm on 28th January 2000.