Disposal

RNS Number:7144S
Halladale Group PLC
02 December 2003

                       Halladale announces #3.55m disposal

Halladale Group plc ("Halladale"), the UK property trading and development
company, announces that it has disposed of a parade of seven retail units with
offices above in central Inverness for #3.55m.

The property at 8 -14 Church Street, totals 20,021 sq ft. Notable retail tenants
include, Lloyds Chemist, Lunn Poly, Save The Children and Barnardo's, while the
open plan office space, located above the retail units, is let until 2013 to the
Secretary of State for the Environment. Rent for the parade totals #293,000 per
annum, reflecting a net initial yield of 7.8 per cent.

The development is the last major disposal relating to the acquisition of the
PPG Portfolio of four properties purchased in May 2002 for #11.5m by Halladale
Ventures Limited, Halladale's joint venture with Bank of Scotland Corporate
Banking.

Montagu Evans acted for Halladale and CGP Limited acted on behalf of the
purchaser, a private investor.

David Lockhart, Chief Executive of Halladale commented:

"We have improved the rental income from these properties through the successful
implementation of rent reviews and are now selling into the strong retail
investment market. This strategy is a good example of our value realisation
model."

                                    - ends -

For further information please contact:

David Lockhart, Chief Executive, Halladale Group plc         0141 204 4633
David Rydell/Charlotte Kirkham, Bell Pottinger Financial     020 7861 3232
Stuart Lane, Collins Stewart Ltd                             020 7523 8310



Full property Address
8 - 14 Church Street, Inverness.



Halladale

   *Halladale is a property trading and development company that creates
    value for shareholders through active and entrepreneurial management and
    risk controlled development of commercial property assets throughout the UK.

   *The value of its portfolio at 30 April 2003, including the aggregate
    value of joint ventures, was #145 million, a year on year increase of 25 per
    cent.

   *In the year ended 30 April 2003, profit before tax increased by 47 per
    cent to #1,691,000 year on year and the total dividend increased by 28 per
    cent to 1.6p per ordinary share.

   *In the same period, the total value of acquisitions and disposals
    increased by 46 per cent to #120 million.

   *Halladale was founded in 1991 by its Chief Executive, David Lockhart, and
    has offices in Glasgow and London.

   *Halladale's shares were admitted to the AIM in April 2001.

   *For more information on Halladale please visit http://
    www.halladale.co.uk.



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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