Additional Listing

Panther Securities PLC
23 April 2003

                                                           For immediate release
                                                                23rd April, 2003


                     Panther Securities P.L.C. ('Panther')

                               Additional Listing


Following the receipt of valid acceptances in respect of the offer for Eurocity
Properties plc of over 90 per cent. of the Eurocity Shares to which the offer
related, Panther exercised its right to compulsorily acquire the remaining
Eurocity Shares under sections 428 to 430F of the Companies Act 1985. Certain
Eurocity shareholders exercised their right to accept the share alternative and
consequently Panther will be issuing a further 30,000 new ordinary shares,
representing 0.18 per cent. of the enlarged issued share capital of Panther.
Application has been made for the said shares to be admitted to the Official
List and to trading on the London Stock Exchange. Trading is expected to
commence on 28th April, 2003. For those Eurocity Shareholders who do not hold
their Eurocity Shares in the CREST settlement system definitive share
certificates are expected to be despatched by first class post on 3rd May, 2003.



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