Increase in Investment

RNS Number:3379P
Fairbriar PLC
03 September 2003

3 September 2003

                  FairBriar PLC ("FairBriar" or "the Company")

INCREASE OF INVESTMENT IN WANDSWORTH JOINT VENTURE COMPANY

FairBriar, the specialist residential property development company, announces
that on 3 September 2003, the Company increased its interest from 47.5% to 50%
in Wandsworth Riverside Quarter Limited, the company responsible for the #150
million development at Wandsworth, London SW18, of 422 residential units
including 107 affordable units and 150,000 sq ft of commercial space.  The other
principal partner, CPL (UK) Pte Ltd (a company incorporated in Singapore) has
also increased its interest from 47.5% to 50%.

The total consideration, for both parties, for the transaction is #894,737
payable in cash, which was the agreed cost of the investment in shares and loan
stock.  The project management agreement relating to this joint venture has also
been terminated with a final management fee payable to Jonathan Alexander
Limited (a wholly owned subsidiary of London Town plc) of #580,000.
Accordingly, Jonathan Alexander Ltd and London Town plc will no longer have any
involvement with the Wandsworth Riverside Quarter development.


For further information:
Philip Van Reyk / Mark Balchin              Jeremy Carey / Marylene Guernier

FairBriar PLC                               Tavistock Communications
Tel: [phone]                          Tel: [phone]


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