Further re Disposal

For immediate release 18 August 2004 Panther Securities PLC ('Panther' or 'the Company') Further Re. Disposal Further to the announcement made on 15th July, 2004, the Company announces that the sale of its properties situated at 38 Mount Pleasant, London WC1 and 158/ 164 (even) Grays Inn Road, London WC1 has been completed. In addition, the Company announces that it has exchanged contracts for the sale of the third property which adjoins the above properties for a consideration of £940,000, payable in cash on completion. For further information: Harold Perloff, Panther Securities plc: 020 7278 8011