Disposal

Derwent Valley Holdings PLC
6 August 2001




                       DERWENT VALLEY HOLDINGS PLC

               Sale of award winning Soho office development

Derwent Valley Holdings plc, the specialist Central London property investor/
refurbisher, has disposed of Broadwick House, its landmark office building, at
15-17 Broadwick Street, Soho W1 to an overseas private client of Strategic
Real Estate Advisors Limited (StratREAL).

The purchaser has paid a consideration of £31.85 million for Derwent Valley's
subsidiary company, which owns the 32,000 sq.ft. (3,019 sq.m.) property. The
eight storey building, which received critical acclaim winning the Estates
Gazette Architectural Award in June 2001, was designed by the Richard Rogers
Partnership and developed by Derwent Valley during 1999 and 2000.

It was pre-let to the Ford Motor Company Limited as its new London design
headquarters until 2020 at a current rent of £1.75 million per annum.

Commenting on the sale John Burns, Managing Director, said:

'Having completed the development and secured a long term letting to a first
class international company, the building no longer requires Derwent Valley's
active management approach. The proceeds from this sale bring the total raised
from disposals this year to £105 million.

 'We continue to look for opportunities to add to the £45 million of
acquisitions made this year, whilst also investing in our ongoing capital
expenditure programme which currently includes schemes at Tower House, Covent
Garden WC2; Panton House, Haymarket SW1 together with space pre-let to Enron
at 21 Grosvenor Place, Belgravia SW1.'

                                                               6 August 2001

ENQUIRIES:

Derwent Valley Holdings plc                                  Tel: [phone]
John Burns, Managing Director

College Hill                                                 Tel: [phone]
Gareth David                                Email: [e-mail]
Lisa Pearson                                Email: [e-mail]