Further Listing of Shares

Northacre PLC
4 August 2000



                                 Northacre plc
                                       
                          Further listing of shares

Application  has  today  been made for the admission  to  trading  on  AIM  of
2,720,181  new  ordinary  shares  issued as  follows:  1,000,000  as  deferred
consideration  pursuant  to the terms of the acquisition  agreement  dated  30
April  1999  concerning the acquisition of Northacre Holdings  Limited;  2,000
pursuant  to  the  conversion of warrants; and 1,718,181 issued  for  cash  in
connection  with the acquisition of Queen Elizabeth College (to  be  known  as
'The Phillimores') announced on 28 April 2000. Admission is expected to become
effective  and dealings to commence in these new ordinary shares,  which  will
rank  pari  passu in all respects with the existing ordinary  shares,  on  10
August 2000.