Circular to Shareholders

Wynnstay Properties PLC 31 July 2000 WYNNSTAY PROPERTIES PLC (the 'Company') CIRCULAR TO SHAREHOLDERS The Company has today sent a circular to shareholders in which Philip Collins, the Chairman of the Company stated: I am pleased to confirm that at the Company's Annual General Meeting held on 27th July 2000, all the resolutions set out in the Notice of Meeting were duly approved. I am also writing to advise you that on 27 July 2000 Panther Securities PLC announced that it had sold its entire holding of 941,539 ordinary shares, equivalent to 29.84% of the issued share capital of your Company, for a total consideration of £1.6 million and formally notified the Company accordingly. On 31 July 2000, the Company received formal notification that these shares were purchased by York & District Investment Company Limited, a wholly-owned subsidiary of Broadland Properties Limited. According to its latest published accounts, Broadland Properties Limited is a property dealing and investment holding company having net assets at 30th September 1999 of £52.97 million. It is based in Scarborough, North Yorkshire and the accounts also show the company as being owned by Mr John Guthrie and his family trusts.