Sale of Investment Property

Wynnstay Properties PLC 25 May 2001 WYNNSTAY PROPERTIES PLC 25 MAY 2001 SALE OF INVESTMENT PROPERTY Wynnstay Properties PLC announces that on 24 May 2001, it exchanged contracts for the sale of its freehold investment property at 134/136 High Street, Epping, Essex for a cash consideration of £755,000, compared with its valuation of £6700,000 at 25 March 2000. The property, comprising 2 retail units with 3 suites of offices above, currently produces a rental income of £ 67,000 p.a. The net sale proceeds will be applied in reducing bank borrowings. Commenting on the transaction, Philip Collins, Chairman, said ' The disposal of this property, at an attractive price, is entirely consistent with the Company's stated objective of reducing its retail element and concentrating future investment on the industrial sector in central southern England.' END
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