Disposal of 'The Clock Tower', Surrey for £6.05m

Cardiff Property PLC
22 March 2000

                 
                        THE CARDIFF PROPERTY PLC

The group specialises in investing and developing commercial and
residential property close to Heathrow Airport and to the west of London
along the M25, M4, and M3 motorway network

        Disposal of 'The Clock Tower', Brookwood, Surrey for £6.05m.

First  Choice  Estates  Plc,  a wholly owned subsidiary  of  The  Cardiff
Property  Plc,  has  agreed  the sale to  Royal  &  Sun  Alliance  Linked
Insurances  Limited, of its freehold office building known as 'The  Clock
Tower', Brookwood, Surrey for £6.05m cash.

The  sale  is due for completion in two stages namely £5.57m on 30  March
2000 and the balance following additional building works at the property.

First  Choice acquired the property and surrounding land in 1997  and  in
conjunction with South Molton Properties obtained planning permissions to
construct  a  new  19,000  sq  ft office building.  The  development  was
recently completed and let on a 20 year lease to Retail Decisions Plc  at
an annual rental of £390,000 rising to £427,000 per annum.

A substantial part of the cash proceeds will be placed on deposit pending
the acquisition of further investment and development property located in
the  Thames  Valley  and if the opportunity occurs  to  invest  in  other
companies.

Richard Wollenberg, Chairman, commented:

'This  sale further enhances the net asset value which amounted to 461p
per share as at 30 September 1999, the company's last year end.

For further information

Richard Wollenberg     Chairman                         01784 437444
Will Martin            Albert E Sharp Securities        020 7489 4600
Brian Coleman-Smith    Binns & Company Public Relations 020 7786 9600