Sale of Properties

RNS Number:8807J
Propan Homes PLC
10 April 2003

                  Propan Homes plc ("Propan" or the "Company")


                          Transactions with Directors


At the Company's EGM to be held on 29 May 2003, as announced earlier today, a
resolution will be proposed, pursuant to Sections 320-322 of the Companies Act
1985, to approve certain transactions with directors Chris Johnson and Terry
Negus. Mr Johnson and Mr Negus propose to purchase at arms' length for market
value a total of three properties from the Company at a development at 51 Iverna
Gardens in Kensington, London (the "Transactions"). The consideration paid by
Terry Negus is #650,000 and by Chris Johnson is #600,000 and #400,000 for the
two properties purchased by him, which, in each case, equates to the independent
valuation of those properties obtained by the Company. The Company expects to
make a gross profit of approximately #100,000 on each disposal and the proceeds
of the disposals will be used as working capital.


Due to the size of the Transactions in relation to the Company, they are deemed
"Related Party Transactions" under the AIM Rules. In accordance with the AIM
Rules, the Independent Directors, having consulted with Seymour Pierce Limited
in respect of the AIM Rules, consider the terms of the Transactions to be fair
and reasonable insofar as Shareholders are concerned.



Enquiries:
James Dubois          Chairman, Propan Homes plc            Tel: [phone]
Hugo de Salis         St Bride's Media & Financial          Tel: [phone]
Jeremy Porter         Seymour Pierce                        Tel: [phone]




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