Statement re Disposal

Strictly embargoed until 07.00 1st November 2004 FLETCHER KING PLC Sale of shareholding in Fletcher King Manchester Fletcher King PLC, the London based property fund managers, asset managers and chartered surveyors, announces today that it has completed the sale of its 30% shareholding in Fletcher King Manchester ("FKM") to Colliers CRE. FKM, the Manchester based firm of chartered surveyors specialising in industrial property agency work has been sold for an aggregate consideration of £435,000. Commenting on the sale, David Fletcher, chairman of Fletcher King PLC, said: "Fletcher King's primary business focus is now property investment and asset management. As such it makes sense for us to sell this non-core business and we are delighted to complete the sale of our shareholding in FKM to Colliers CRE." END Issued by mj2 ltd on behalf of Fletcher King PLC For further information, please call: Tim McCall, mj2 Ltd 020 7491 7776