Acquisition

RNS Number:9688V
Eurocity Properties PLC
18 December 2000

              Eurocity Properties PLC ("Eurocity" or "the Company")

The Board of Eurocity is pleased to announce the acquisition of the whole issued
share capital of three residential property companies, Oak Properties Limited,
Oak Properties II Limited and Trio Properties Limited, for a total consideration
of #1.8 million, to be satisfied as to #1.6 million in cash and as to #200,000
by the issue of 400,000 new Eurocity ordinary shares at a price of 50p per
share.

The assets in the three companies comprise nine residential properties located
in central London, which are let and producing a total gross rent of
approximately #178,500 per annum.  Funding for the cash element of the
acquisition was provided by Wintrust Securities Limited.

The Company proposes to sell some of the properties in order to reduce its bank
indebtedness.

Commenting on the acquisition, Baron Bloom, Managing Director, said:  "I am
gratified that the vendors have taken Eurocity shares in part payment and I am
confident that the excellent central London location of the properties will
enable early sales to be achieved."

Enquiries to:

Baron Bloom, Managing Director          Tel:  [phone]

Robert Lo/Keith Smith                   Tel:  [phone]
Nabarro Wells & Co. Limited - Nominated Adviser