Property Valuation

Pathfinder Properties PLC 12 November 2004 FOR IMMEDIATE RELEASE 12 November 2004 Pathfinder Properties PLC ('Pathfinder' or the 'Company') Property Valuation The Directors of Pathfinder have received a valuation for the site at River Quay, Owen Street, Manchester as requested by shareholders at the Annual General Meeting. The market value of the unencumbered freehold interest in the site on the basis of the detailed planning consents for phases 1 and 2 and 'hope value' for residential development with an element of commercial on phases 3 and 4: Phase 1 £4,750,000 Phase 2 £5,600,000 Phase 3 £2,300,000 Phase 4 £2,900,000 Total: £15,550,000 Contact: Roland Cornish, Beaumont Cornish Limited on 020 7628 3396 Gerry Lee, Pathfinder Properties PLC on 020 8731 0110 This information is provided by RNS The company news service from the London Stock Exchange