Planning Consent Received

Northacre PLC
07 November 2002

                                  NORTHACRE PLC

                          ('Northacre' or 'the Group')

                            Planning Consent Received

Northacre, the premier developer of landmark residential property schemes in
Central London, announces it has successfully achieved planning consent on its
development formerly known as Sir John Atkins Building, Campden Hill, Kensington
for 35 apartments & 8 houses with provision for 27 affordable housing units on
site. The planning permission also includes planning for 71 parking spaces on
site

Northacre holds the site in a joint venture with the Westcity Group.

It is anticipated that construction will start in early 2003 with practical
completion in August 2005.


                                                                7 November 2002


Enquiries:

Northacre PLC                                          Tel: [phone]
Simon Elgar, Finance Director

College Hill Associates                                Tel: [phone]
Kate Pope



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