Trading Update

Terrace Hill Group PLC
16 July 2004



TERRACE HILL GROUP PLC ('Terrace Hill')



TRADING UPDATE



Terrace Hill has contracted to sell a block of 20 flats in Glasgow at a price of
£2,325,000, an increase of 34.3% on the carrying value of the property at the
start of Terrace Hill's financial year, 1 November 2003, which was £1,731,000.
Additionally £238,380 of Negative Goodwill will be released to the Profit and
Loss Account. The property was acquired by Terrace Hill in November 2001 at a
price just under £1 million.



Terrace Hill has also this month sold an office building in Slough for £1.6
million.





For further information please contact:



Ross Macdonald, Terrace Hill Group PLC, Joint Managing Director - 0141 332 2014



Alasdair Robinson, Noble & Company Limited - 0131 225 9677





Notes to Editors:



Terrace Hill Group PLC is an AiM traded Property Group.  It has two divisions
(1) Commercial Development where the current development programme is around
£500 million, with approaching £200 million underway and £300 million projected
and (2) Residential Investment where it holds 535 units in Scotland and the
North of England.  Terrace Hill recently reported an increase of £18.986 million
(40.80%) in Net Asset Value to £65.5 million in the half year to 30 April 2004,
contributed to by a placing with institutional shareholders of £8.128 million,
and at the same time announced a doubling of dividend.






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