Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


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We store and use information you provide as follows:

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You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


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Terrace Hill Group (THG)

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Monday 12 July, 2004

Terrace Hill Group

Joint Venture with Lithgows

Terrace Hill Group PLC
12 July 2004

For embargoed release 7 am                            12 July 2004

                    TERRACE HILL GROUP PLC ('Terrace Hill')


Terrace Hill are pleased to announce that they have entered into a Joint Venture
with Lithgows Limited of Port Glasgow in 50/50 ownership through a jointly owned
company, Achadonn Limited, of six brownfield sites in Central Scotland, all
suitable for residential development, acquired from the Lithgow Group.

The Joint Venture, whose directors are Ross Macdonald and Mandy Kelly of Terrace
Hill and Alasdair Reid and Alastair Wishart of Lithgows, will prepare the sites
by way of planning applications and other preliminary work, for development,
with a view to trading the land, although the Joint Venture itself, and Terrace
Hill, may develop parts themselves.

The sites extend in aggregate to 94.2 acres and are considered to allow for
development of around 700 residential units.  The gross value of the land,
assuming planning permission, has been estimated at some £15 million.

Joint Managing Director Ross Macdonald said 'This deal gives us access to
excellent residential sites - all brownfield - capable of development over the
years ahead, and further enhances our prospects of adding to shareholder value
in the future.

I am particularly looking forward to working again with Lithgows, having been
solicitor to them prior to the founding of Terrace Hill, and with their officers
whom I have known for many years.'

Commenting for Lithgows, Chairman, James Lithgow said, 'This Joint Venture is in
line with our group strategy to maximise shareholder value from existing
property assets. In addition it provides the opportunity for Achadonn to acquire
other sites suitable for future redevelopment. We look forward to working with
Terrace Hill on this new venture.'


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

Alasdair Robinson, Noble & Company Limited - 0131 225 9677


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.

                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                                                                                                                                                                                                                    

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