Additional Listing

Northacre PLC
20 December 2000

                                  Northacre

                               Further Listing

Application has been made for 957,854 new Ordinary Shares to be admitted to
trading on the Alternative Investment Market. These new ordinary shares have
been issued to Orb Estates Plc, at a subscription price of 52.2p per share,
pursuant to the exercise of conversion rights under a loan agreement dated 11
September 2000. Admission is expected to become effective in these new
ordinary shares, which rank pari passu in all respects with the existing
Ordinary Shares, on 21 December 2000.