Planning consent

Northacre PLC
11 January 2002



                                NORTHACRE PLC

                         ('Northacre' or 'the Group')


         Planning Consent Secured for The Phillimores, Kensington W8


Northacre PLC announces that planning consent has now been secured from The
Royal Borough of Kensington & Chelsea for the Company's joint venture
development of The Phillimores (Queen Elizabeth College) in Kensington, W8.
The construction and marketing of one of London's finest new residential
schemes will commence immediately.



Northacre plc is widely regarded as one of the premier developers of landmark
residential property schemes in Central London.  The Phillimores development,
a joint venture with the Westcity Group, will create a premier residential
scheme in the same landmark style as Northacre's successful development, The
Bromptons.





                                                               11 January 2002

Enquiries:

Northacre PLC                       Tel: [phone]

John Hunter, Chief Executive

College Hill                        Tel: [phone]

Kate Pope