Disposal

Fletcher King PLC
18 January 2002



              FLETCHER KING SELLS STAKE IN BIRMINGHAM ASSOCIATE


Fletcher King Plc ('Fletcher King'), the property and construction services
group, announces that it is transferring its 25% equity stake in Fletcher King
Cosnett Price, its associate company in Birmingham, to the Cosnett Price
management. The consideration is not being disclosed.



                                     END


For further information, please contact:-


David Fletcher, Chairman            Fletcher King Plc          020 7493 8400
Claire Rowberry/Francetta Carr      GCI Financial              020 7072 4215