Update - Sale of Property

RNS Number:3039U
Walker (Thomas) PLC
15 January 2004



Thomas Walker PLC
15 January 2004


Update - Sale of Property


Set out below is the text of a letter posted to the Company's shareholders today
in connection with the sale of the Company's St Paul's Square property to
Countrywide Homes (Mercia) Limited announced on 9 January 2004.

The Company is pleased to announce that the sale of the Company's St Paul's
Square property to Countrywide Homes (Mercia) Limited, which was originally due
for completion on 18 December 2004, was finally concluded on 9 January 2004. The
balance of the sale proceeds has been received in full together with interest
accruing from the delay in completion. The transaction and associated project
costs will be incorporated in the accounts of the Company for the year ending 30
June 2004.

At the Extraordinary General Meeting of the Company held on 19 December 2003,
which was called to request that the Board consider the declaration of special
dividend from the proceeds of the sale of the St Paul's Square property, 77.5%
of the issued shares recorded a vote. A substantial majority of shareholders
voted against the resolution.

With the disposal of the St Paul's Square property now completed, the Board will
be seeking to consolidate the Company's operations within the new premises and
to evaluate suitable acquisition opportunities, with a view to diluting Thomas
Walker's historical reliance on the textile garment industry.

A copy of this letter is available for inspection from the Company's offices at
Catesby Park, Eckersall Road, Kings Norton, Birmingham B38 8SE at for a period
of one month from this date thereof.


ENDS


Enquiries:

Thomas Walker PLC                                               0121 486 4107
Bryan Knight, Chairman
Stephen Halstead, Finance Director


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