Result of EGM

Terrace Hill Group PLC
05 March 2003


TERRACE HILL GROUP PLC ('the Company')
Result of Extraordinary General Meeting


At the Extraordinary General Meeting of the Company held yesterday, the
resolution to approve the buy back of up to 750,000 ordinary shares was approved
by shareholders.

Tenders were received in excess of 750,000 shares, and the directors therefore
intend to propose a further buy back at the time of the announcement of the
Company's interim results to 30 April 2003. This is intended to take up all
shares scaled back at the same price of 16.25p or, if the proposal is extended
further, at any higher price at which tenders are invited.

In light of the announcement by the Company earlier today of a substantial
disposal, current tenderers are being given an opportunity to withdraw tenders.
A letter to this effect will be posted to tenderers today.  Payment for shares
tendered and not withdrawn or scaled back will be made on 14 March 2003.

Shares in respect of which scaling back or withdrawal applies and which are not
therefore bought back under the current action will be treated as on the
register at the record date for the dividend announced on 23 January 2003.

END


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