Disposal

Creston PLC
20 December 2000

Creston plc

Disposal of subsidiary companies



Creston plc has sold the whole of the issued share capital of Creston Land
Limited, Creston Commercial Property Limited, Creston Investments Limited,
Creston Barnwood Limited, 34 Grosvenor Gardens Limited, Creska Limited,
Assistbond Limited and Meridian Land Limited ('the Disposal Companies') for a
total consideration paid wholly in cash on completion of £2.87 million to Mr
Jan Talich. In addition, £2.2 million of moribund inter company debt owed by
the Disposal Companies to Creston plc was disposed of to Mr Jan Talich as part
of the transaction.

Following the disposal of the entire property portfolio earlier this year, all
of the Disposal Companies ceased to trade and hold no property assets either
directly or indirectly. Following this transaction Creston plc has only one
subsidiary, Knapton Limited which is dormant.

The combined net assets of the Disposal Companies as at the date of disposal
are estimated to amount to £259,000. The directors of Creston plc estimate
that this transaction will result in a group profit on disposal not exceeding
£78,000.

20th December 2000