Termination of Discussions

Northacre PLC
05 March 2004



                                 NORTHACRE PLC
                        (''Northacre'' or ''the Group'')

                           Termination of Discussions


Northacre previously announced that Klas Nilsson & John Hunter, respectively
Executive Chairman and Chief Executive, had made a preliminary approach that may
or may not lead to an offer for the Group. The Board understands that Messrs
Nilsson & Hunter have been unable to secure funding for an offer on acceptable
terms, and as a result the Board has been informed that an offer for the Group
will not now be made by Messrs Nilsson and Hunter. It is the intention of the
Board to make a further announcement shortly in respect of the Group's trading
and progress on the Group's property developments.



The Directors of Northacre PLC accept responsibility for the information
contained in this document. To the best of the knowledge and belief of such
Directors (having taken all reasonable care to ensure that such is the case),
the information contained herein is in accordance with the facts and does not
omit anything likely to affect the import of such information.


5 March 2004


Enquiries:

College Hill Associates                                       Tel: [phone]
Kate Pope
Nick Elwes


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