Contracts Exchanged for Hammersmith Property Sale

CRESTON PLC 28 October 1999 Creston plc announces that it has today exchanged contracts to sell 275/281 King Street, Hammersmith, London W6 for £3,200,000. A deposit of £320,000 was paid in cash by the purchaser on exchange of contracts and the balance is payable in cash on completion on 25 November 1999. The property comprises an office building totalling 20,345 square feet let to three tenants at rents totalling £311,484 per annum. The book value of the property is £2,850,000. The sales proceeds will be applied to the reduction of borrowings.