Property Development

Medsea Estates Group PLC
04 July 2005


For immediate release 4 July 2005

              MEDSEA ESTATES GROUP PLC ('MEDSEA' OR THE 'COMPANY')
                          MILLION POUNDS PROPERTY DEAL

Urbanilor S.l., a company in which Medsea Estates Group PLC holds a 5 per cent
interest, has bought development rights to a 693,159 sq m - approximately 7.5
million sq ft - plot of land in Aguilas, Murcia, Spain for €1,616,520
(approximately £1 million). Urbanilor intends to develop up to 578 residential
properties on the site, the first of which will be under construction by March
2006.

Medsea will supervise everything related to the sales and marketing of the
properties on behalf Urbanilor, and Medsea's subsidiary, Euromed, acting as
principle agent, is marketing the development in the UK and Ireland through its
links with some 150 independent property agents.

This is Euromed's second exclusive arrangement. Its first, earlier this year,
was with Promilorci SL for the 4.5 million sq ft Nuevo Torre Guil development
also in Murcia.

The project, known as the Torre del Obispo development, is within a large
forested area six miles from the city of Murcia, one of the most important
Spanish destinations for national and international tourism. The Murcia region
has experienced significant growth and ranks fifth for foreign investment in
Spain with Madrid and Barcelona taking the first two places.

The new homes will comprise of maisonettes, two bedroom two bathroom 970 sq ft
maisonettes; two-storey, two to three bedroom semi-detached houses; and
individual plots with prices starting at €135,000 for the maisonettes to
€240,000 for the semis.

- ends -

For further information contact:

Tony Gatehouse, Chairman
Medsea Estates Group PLC                                 0034 96 570 40 02

Juan Carlos Rodriguez Martinez, Chief Executive
Medsea Estates Group PLC                                 0034 96 570 40 02

Roland Cornish/
Noelle Greenaway
Beaumont Cornish Limited                                 0207 628 3396

Mark Sheppard                                            0161 228 1709
Midas

Terry Garrett/ Alex White
Weber Shandwick Square Mile                              0207 067 0700




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