Final Results -7-

+-------------------------------+-----------+-------------+-+---------------+-+-------------+-+-------------+-+---------------+-+-------------+ 
|                               |           |                 31 December 2008              | |                 31 December 2007              | 
+-------------------------------+-----------+-----------------------------------------------+-+-----------------------------------------------+ 
|                               |     Notes |       Group | |     Interests | |       Total | |       Group | |     Interests | |       Total | 
|                               |           |             | |      in joint | |             | |             | |      in joint | |             | 
|                               |           |             | |      ventures | |             | |             | |      ventures | |             | 
+-------------------------------+-----------+-------------+-+---------------+-+-------------+-+-------------+-+---------------+-+-------------+ 
|                               |           |     GBP'000 | |       GBP'000 | |     GBP'000 | |     GBP'000 | |       GBP'000 | |     GBP'000 | 
+-------------------------------+-----------+-------------+-+---------------+-+-------------+-+-------------+-+---------------+-+-------------+ 
|                               |           |             | |               | |             | |             | |               | |             | 
+-------------------------------+-----------+-------------+-+---------------+-+-------------+-+-------------+-+---------------+-+-------------+ 
| Non-current assets            |           |             | |               | |             | |             | |               | |             | 
+-------------------------------+-----------+-------------+-+---------------+-+-------------+-+-------------+-+---------------+-+-------------+ 
| Plant and equipment           |      13   |          42 | |            34 | |          76 | |           9 | |            17 | |          26 | 
+-------------------------------+-----------+-------------+-+---------------+-+-------------+-+-------------+-+---------------+-+-------------+ 
| Investment in joint ventures  |      14   |       7,346 | |       (7,346) | |           - | |       8,181 | |       (8,181) | |           - | 
+-------------------------------+-----------+-------------+-+---------------+-+-------------+-+-------------+-+---------------+-+-------------+ 
| Investment properties         |      15   |      33,336 | |        11,148 | |      44,484 | |      24,777 | |         7,932 | |      32,709 | 
+-------------------------------+-----------+-------------+-+---------------+-+-------------+-+-------------+-+---------------+-+-------------+ 
| Assets under construction     |      14   |           - | |             - | |             | |           - | |           621 | |         621 | 
+-------------------------------+-----------+-------------+-+---------------+-+-------------+-+-------------+-+---------------+-+-------------+ 
| Total non-current assets      |           |      40,724 | |               | |             | |      32,967 | |               | |             | 
+-------------------------------+-----------+-------------+-+---------------+-+-------------+-+-------------+-+---------------+-+-------------+ 
|                               |           |             | |               | |             | |             | |               | |             | 
+-------------------------------+-----------+-------------+-+---------------+-+-------------+-+-------------+-+---------------+-+-------------+ 
| Current assets                |           |             | |               | |             | |             | |               | |             | 
+-------------------------------+-----------+-------------+-+---------------+-+-------------+-+-------------+-+---------------+-+-------------+ 
| Inventories                   |      16   |           - | |             - | |           - | |           - | |             - | |           - | 
+-------------------------------+-----------+-------------+-+---------------+-+-------------+-+-------------+-+---------------+-+-------------+ 
| Trade and other receivables   |      17   |         698 | |           449 | |       1,147 | |         575 | |           102 | |         677 | 
+-------------------------------+-----------+-------------+-+---------------+-+-------------+-+-------------+-+---------------+-+-------------+ 
| Current Tax Asset             |           |         178 | |             - | |         178 | |           - | |             - | |           - | 
+-------------------------------+-----------+-------------+-+---------------+-+-------------+-+-------------+-+---------------+-+-------------+ 
| Restricted Cash               |      20   |       3,125 | |             - | |       3,125 | |           - | |             - | |           - | 
+-------------------------------+-----------+-------------+-+---------------+-+-------------+-+-------------+-+---------------+-+-------------+ 
| Cash and cash equivalents     |      19   |       8,665 | |            68 | |       8,733 | |      26,479 | |            19 | |      26,498 | 
+-------------------------------+-----------+-------------+-+---------------+-+-------------+-+-------------+-+---------------+-+-------------+ 
| Total current assets          |           |      12,666 | |           517 | |      13,183 | |      27,054 | |           121 | |      27,175 | 
+-------------------------------+-----------+-------------+-+---------------+-+-------------+-+-------------+-+---------------+-+-------------+ 
|                               |           |             | |               | |             | |             | |               | |             | 
+-------------------------------+-----------+-------------+-+---------------+-+-------------+-+-------------+-+---------------+-+-------------+ 
| Current liabilities           |           |             | |               | |             | |             | |               | |             | 
+-------------------------------+-----------+-------------+-+---------------+-+-------------+-+-------------+-+---------------+-+-------------+ 
| Trade and other payables      |      18   |     (4,136) | |         (751) | |     (4,887) | |       (948) | |         (210) | |     (1,158) | 
+-------------------------------+-----------+-------------+-+---------------+-+-------------+-+-------------+-+---------------+-+-------------+ 
| Current tax liabilities       |           |       (418) | |             - | |       (418) | |       (382) | |          (11) | |       (393) | 
+-------------------------------+-----------+-------------+-+---------------+-+-------------+-+-------------+-+---------------+-+-------------+ 
| Total current liabilities     |           |     (4,554) | |         (751) | |     (5,205) | |     (1,330) | |         (221) | |     (1,551) | 
+-------------------------------+-----------+-------------+-+---------------+-+-------------+-+-------------+-+---------------+-+-------------+ 
|                               |           |             | |               | |             | |             | |               | |             | 
+-------------------------------+-----------+-------------+-+---------------+-+-------------+-+-------------+-+---------------+-+-------------+ 
| Net current assets            |           |       8,112 | |               | |             | |      25,724 | |               | |             | 
+-------------------------------+-----------+-------------+-+---------------+-+-------------+-+-------------+-+---------------+-+-------------+ 
|                               |           |             | |               | |             | |             | |               | |             | 
+-------------------------------+-----------+-------------+-+---------------+-+-------------+-+-------------+-+---------------+-+-------------+ 
| Non-current liabilities       |           |             | |               | |             | |             | |               | |             | 
+-------------------------------+-----------+-------------+-+---------------+-+-------------+-+-------------+-+---------------+-+-------------+ 
| Financial liabilities         |           |           - | |       (3,602) | |     (3,602) | |           - | |         (289) | |       (289) | 
+-------------------------------+-----------+-------------+-+---------------+-+-------------+-+-------------+-+---------------+-+-------------+ 
|                               |           |             | |               | |             | |             | |               | |             | 
+-------------------------------+-----------+-------------+-+---------------+-+-------------+-+-------------+-+---------------+-+-------------+ 
| Net assets                    |           |      48,836 | |               | |             | |      58,691 | |               | |             | 
+-------------------------------+-----------+-------------+-+---------------+-+-------------+-+-------------+-+---------------+-+-------------+ 
|                               |           |             | |               | |             | |             | |               | |             | 
+-------------------------------+-----------+-------------+-+---------------+-+-------------+-+-------------+-+---------------+-+-------------+ 
| Represented by:               |           |             | |               | |             | |             | |               | |             | 
+-------------------------------+-----------+-------------+-+---------------+-+-------------+-+-------------+-+---------------+-+-------------+ 
| Equity                        |           |             | |               | |             | |             | |               | |             | 
+-------------------------------+-----------+-------------+-+---------------+-+-------------+-+-------------+-+---------------+-+-------------+ 
| Share capital                 |      22   |      27,060 | |               | |             | |      26,742 | |               | |             |