Rights Issue/Share Repurchase

Capitaltech PLC
30 October 2001


                         
CAPITALTECH PLC ('the Company')


RIGHTS ISSUE/SHARE REPURCHASE


Reference is made to the Company's announcement of 3 October 2001 and to the
further announcement of  an interim allotment of 3,500,000 Ordinary Shares
pursuant to the Rights Issue made on 18 October 2001.

In final pursuance of the Rights Issue, the Company has today allotted
16,500,000 new Ordinary Shares of 2p each nominal value, ranking in all
respects pari passu with the existing Ordinary Shares of 2p each nominal value
in issue, at a price of 10p each.

Application has been made for Admission to trading on AIM of said 16,500,000
new Ordinary Shares and Admission is expected on 5 November 2001.

The Extraordinary General Meeting of the Company held today approved the
contracts constituted by tenders to the company to repurchase Ordinary Shares
of 2p each nominal value at a price of 10p each pursuant to the Share
Repurchase and the Company has accordingly repurchased for cancellation
2,980,126 such shares.

Ross Macdonald, Chief Executive, commented that the Company board were
delighted with the response to this exercise. One of the reasons for
proceeding had been that the Company's share price had been depressed of late
(standing below 10p through much of September despite a last published Net
Asset Value per share of 31.9p) by a continuing trickle of small sellers.  Now
that 238 former shareholders had had their shares repurchased by the Company
it is hoped that this overhang has been reduced.

In addition, subscription pursuant to the Rights Issue had been made by no
less than 504 shareholders who had thereby shown confidence in the Company's
strategy of building a solid asset base of residential property
preponderantly, although not exclusively, in Scotland and the North of
England.

That a total of 742 out of a former list of 1,864 shareholders (now reduced,
by the rights issue and other sales to 1,622), almost 40 per cent, had taken
positive action was most gratifying. Not to be forgotten, too, were the very
many shareholders who had taken the opportunity of the exercise to speak to one 
of the directors and had confirmed their wish to remain with
their existing holdings.



END