Sale of Flat

RNS Number:7072N
Northacre PLC
18 July 2003



                                 NORTHACRE PLC
                          ("Northacre" or "the Group")

                                  Sale of Flat


Northacre Group PLC has agreed to grant a long lease over a flat comprising part
of the premises occupied by the company at 48 Old Church Street to Mr John
Hunter, a director and shareholder of the company.


The lease is being granted for  #475,000 cash on completion, which is the book
value of the property following a revaluation of the premises in April 2003 by
Messrs Cushman Wakefield Healey and Baker.


The flat is now surplus to requirements following an internal reorganisation of
staff accommodation and the proceeds are being utilised in full to reduce the
company's bank borrowings.


The directors of the company (other than Mr Hunter), having consulted with the
company's nominated adviser, consider that the terms of the transaction are fair
and reasonable in so far as the company's shareholders are concerned.



18 July 2003




Enquiries:

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

College Hill Associates                                Tel: [phone]
Kate Pope





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