Acquisition

Pathfinder Properties PLC 14 March 2003 FOR IMMEDIATE RELEASE 14 March 2003 PATHFINDER PROPERTIES PLC ('PROPERTIES' OR 'THE COMPANY') ACQUISITION OF REMAINING 20% INTEREST IN PATHFINDER (RIVER QUAY) LIMITED Pathfinder Properties PLC announces that its 96% owned subsidiary, Pathfinder Recovery Ventures Limited ('PRVL'), has acquired from Pathfinder Developer IV PLC ('Developer IV') and Pathfinder Developer IX PLC ('Developer IX') the outstanding 20% equity interests in Pathfinder (River Quay) Limited ('PRQL'), which owns a property development at River Quarter, Manchester. Contemporaneously with this acquisition, PRVL has acquired from Developer IV and Developer IX certain loans which Developer IV and Developer IX made to PRQL. The consideration for the acquisition of these interests was the payment of £915,000 in cash and the transfer by PRVL of 3,989,800 shares in Properties. The acquisition brings PRQL and the River Quarter site under the 100% ownership and control of the Pathfinder Properties Group. Following this transaction Developer IV holds 398,980 shares in Properties, amounting to 0.5% of the issued ordinary share capital of the Company, Developer IX holds 3,590,820 shares in Properties, amounting to 4.5% of the issued ordinary share capital of the Company and PRVL holds 10,559,036 shares in Properties, amounting to 13.2% of the issued ordinary share capital of the Company. Enquiries: John Parry, Pathfinder Properties PLC (020) 7736 9669 Robert Lo, Nabarro Wells & Co.Limited (020) 7710 7407 This information is provided by RNS The company news service from the London Stock Exchange