AGM/EGM Statement

RNS Number:3658J
Terrace Hill Group PLC
07 March 2005


                    TERRACE HILL GROUP PLC ("Terrace Hill")

                              AGM and EGM REPORTS


Overview

*             Encouraging start to the new year

*             Substantial land acquisition at Farnborough

*             Major lettings at Swansea and Uxbridge

*             Further disposals of English residential units

*             Development land acquired in Lanarkshire

*             Power taken to buy own shares on market


Terrace Hill, the AIM traded property group, held its AGM on Friday 4 March 2005
and all resolutions were duly passed.  At an EGM which followed the AGM, Terrace
Hill took power to purchase its own shares on the market, up to a number not
exceeding 10% of issued capital and at a price related to market price at the
time of any such purchase.


Philip Leech, recently appointed Group Managing Director, made the following
statement at the AGM:


"Terrace Hill has made a busy start to its new accounting year which commenced 1
November 2004.


"Terrace Hill has purchased from British Aerospace and the MOD 16.68 acres
adjoining the Farnborough Aerospace Centre.  Planning was approved in principle
for a 350,000 sq ft commercial development during the previous ownership pending
statutory agreements.  Terrace Hill intends to seek amended planning permission
for a mix of commercial and industrial development, and has already received
some interest from potential end users.  It is proposed to carry out development
of this site in joint venture.  The development estimated end value is #60
million.


"Terrace Hill previously announced the start of construction of a 40,110 sq. ft.
office building being developed in conjunction with the Welsh Development
Agency, due to be completed in December 2005.  This is a significant building in
the Swansea Waterfront Redevelopment known as SA1.  Terrace Hill is now pleased
to announce that the Welsh Development Agency has agreed to take a 20 year lease
of the building on completion.


"At UB1 in Uxbridge, in what is reported by Estates Gazette to be one of the
Thames Valley's largest office deals in 2004 and for its European HQ, Hertz
Corporation has taken an 11 year lease.  The 69,300 sq. ft. office building was
developed by Terrace Hill in joint venture with Liberty Property Trust.


"The office building redeveloped in joint venture at 11 Berkeley Street, London,
W1, has been sold at a price of #13.7 million, reflecting a yield equivalent to
5.37%, to ING.  The property was comprehensively refurbished by Terrace Hill in
2003 as part of its focus on the London West End, and then held as an
investment.  The building is 75% let in a prime location and has benefited from
an improving tenant market in the West End.


"The sales programme at Decimus Park, Tunbridge, has started well.  Forward sale
contracts have been exchanged on 12 industrial units at an aggregate price of
#5.33 million.


"Also in the South East, nine office units totalling #3.46 million have now been
sold to owner-occupiers in Terrace Hill's development at Queen Elizabeth Park,
Guildford.


"Continuing the policy of disposing of scattered English residential flats and
houses at the top of the market, Terrace Hill has, since 1 November, completed
sales of a further 23 units at book value (being 31 October year end valuation)
of #2.322 million.


"At Shotts in Lanarkshire, Terrace Hill is progressing site assembly of land
suitable for residential development.  20.2 acres has been purchased from
Terrace Hill's joint venture with Lithgows Ltd, and in addition adjoining former
railway land has been acquired from local manufacturers Davidson to improve
access.  Potential residential development could be up to #15 million."


                                  * * ENDS * *


For further information please contact:

Philip Leech, Group Managing Director, 01642 243 444

Ross Macdonald, Deputy Chairman, 0141 332 2014

Alasdair Robinson, Noble & Company Limited, 0131 225 9677

Isabel Crossley, St Brides Media & Finance Ltd, 020 7242 4477


NOTES TO EDITORS:

Terrace Hill Group PLC is an AIM traded property group with NAV #70 million. It
has two divisions, Commercial Development throughout the UK and Residential
Investment and Development in Scotland and the North of England, with a
development programme of almost #600 million with approaching #200 million
underway. Terrace Hill recently reported an increase of over 25% in both NAV and
pro-forma Triple NAV to 38.12p per share and 39.99p respectively in the year to
31 October 2004, and an increase in final dividend from 0.15p per share to 0.50p
per share.


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