Directorate

NORTHACRE PLC
4 October 1999
                                       
                                  Directorate

The  Company announces that Mr Charles Helvert has resigned as a non-executive
director  of  the Company.  The Board would like to thank Mr Helvert  for  his
role  in  the  recent  transaction with Property Asset Holdings  plc  and  his
considerable contribution and expertise.

Enquiries:

John Hunter, Chief Executive       Northacre plc               0171 349 8000

Mathew Smallwood                  College Hill                 0171 457 2020