Posting of Circular

Northacre PLC
4 August 2000


                         Northacre plc
                                       
                       Posting of circular

A  circular  is  today  being posted to shareholders in  connection  with  the
proposed  acquisition  of  Lawgra (no. 358) Limited as announced  on  16  June
2000,  the  principal  asset  of which will be, on completion,  the  leasehold
property  situated at 17 - 22 South Audley Street and 35 South  Street  London
W1.  The  acquisition is conditional, inter alia, on approval by  shareholders
and  the circular contains a notice of an extraordinary general meeting to  be
held on 1 September 2000 following the Company's Annual General Meeting.

It is expected that the suspension in trading in the Company's ordinary shares
will be lifted from the commencement of trading today.

Copies of the circular are available for collection from the Company at 48 Old
Church  Street,  London SW3 5BY and from the offices of Peel Hunt  plc  at  62
Threadneedle Street, London EC2R 8HP.