Interim Results - Pre-tax Profit Up 52%

Fletcher King PLC
7 December 1999

                       Fletcher King Plc
                               
  STRONG PERFORMANCE GROUPWIDE RESULTS IN 52% PROFITS GROWTH


Fletcher  King  Plc,  the  property and  construction  services
group,  today announce their interim results for the six months
to 31 October 1999.

Highlights

-   PROFIT BEFORE TAX up 52% to £305,000 (1998: £201,000)

-   TURNOVER up 22% to £3.63 million (1998: £2.97 million)

-   EARNINGS PER SHARE up 53% to 2.3p (1998: 1.5p)

-   INTERIM DIVIDEND up 50% to 1.5p (1998: 1.0p)

-   STRONG BALANCE SHEET WITH SIGNIFICANT CASH BALANCES

-   BUOYANT PROPERTY MARKET ENSURES ACTIVE FIRST HALF IN  ALL
    OFFICES THROUGHOUT THE UK.


Commenting on the results, David Fletcher, Chairman, said:

  'The   investment   market  has  been  exceptionally   active
  throughout  the  first  half  year.   The  weight  of  money,
  coupled with restricted supply, has forced yields lower.   It
  is  quite  likely that property will outperform both equities
  and  gilts this year and perform strongly through to at least
  2001.

  'In  addition,  occupational  demand  remains  buoyant.   The
  supply  of  space to satisfy this demand is limited  and  the
  continuing  reluctance of institutions to finance speculative
  schemes  will  prevent  the  overbuilding  we  have  seen  in
  previously strong property markets.

  'Our results reflect not only the buoyancy of the market  but
  also  the  investment in people and technology made over  the
  last  five  years.   This  has positioned  us  to  take  full
  advantage  of  the improving environment and we look  forward
  to  that level of performance continuing for the remainder of
  the year.'
  

For further information, please contact:-

David Fletcher, Chairman           Fletcher King Plc   0171 493 8400
Stephanie Highett/Francetta Carr   GCI Focus           0171 398 0800



Fletcher King Plc 
Chairman's Statement


I  am delighted to report continuing strong performance and the
interim results for the six months to the 31 October 1999  show
a  profit  before tax of £305,000 (1998 - £201,000).   Earnings
per share are 2.3p (1998 - 1.5p).

The  directors have declared an increased interim  dividend  of
1.5p  (1998 - 1.0p) per share which will be paid on 10  January
2000  to  shareholders on the register at the close of business
on 17 December 1999.

Our  results  reflect not only the buoyancy of the  market  but
also the investment in people and technology made over the last
five  years.  This positioned us to take full advantage of  the
improving environment.

Despite   pressure   on  profit  margins   in   corporate   UK,
occupational demand for most types of property remains buoyant.
The  supply of space to satisfy this demand is limited and  the
continuing  reluctance of Institutions to  finance  speculative
schemes  will  prevent the overbuilding that we have  so  often
seen in previous strong property markets.

There  has  been positive rental growth throughout the  country
generally  and  this  has  been the year  when  many  locations
finally saw rental levels above what they were 8-10 years ago.

The  weak investment market we reported a year ago has  changed
dramatically and throughout the first half the market has  been
exceptionally  active.   The  weight  of  money,  coupled  with
restricted supply, has forced yields lower.  It is quite likely
that property will outperform both equities and gilts this year
and perform strongly through to at least 2001.

Much  depends on the world stock markets and in particular Wall
Street,  and they remain remarkably resilient.  Initial  yields
indicate expectations of dividend and capital growth that  will
be  difficult  to  achieve  and property  by  comparison  looks
relatively under priced.

Our  construction  services  business,  Howard  Associates,  in
common  with the building industry generally, is finding  large
new jobs harder to win.  Current client requirements are for  a
number of smaller buildings rather than a few very large  ones.
Once  millennium compliance expenditure by their major  clients
is  completed,  delayed new building projects  should  come  on
stream and the pipeline for new business remains strong.

The  group's offices in London, Manchester and Birmingham  have
had an active first half and look forward with optimism to that
level of performance continuing for the remainder of the year.

We  continue  our investment in IT and training to enhance  the
delivery of more economic property solutions to our clients.

Our  balance sheet is strong with significant cash balances and
this supports our increased dividend.

Without  our loyal clients and dedicated staff, such  excellent
results would not be possible and I thank them all.


                                        David Fletcher, Chairman
                                        7 December 1999
                                        Registered Office
                                        Stratton House,
                                        Stratton Street
                                        London W1X 5FE
                                             
                                             
                                             
                                             
Group Profit and Loss Account
(unaudited) for the six months to 31 October 1999

                       6 months to          6 months to     Year to 30
                   31 October 1999      31 October 1998     April 1999
                                  
                                                     
                              £000                 £000           £000
                                                        
 Turnover                    3,629                2,973          6,564
                                                     
 Profit on ordinary                                                
 activities before                         
 taxation                      305                  201            542
                                                      
 Taxation                      104                   70            179
                                                     
 Profit after                                   
 taxation                      201                  131            363
                                                      
 Dividends                     132                   87            281
                                                     
 Dividends per                 
 Share                         1.5p                 1.0p           3.2p
                                                      
 Retained Profit                69                   44             82
                                                                 
 Earnings per                 
 share                         2.3p                 1.5p           4.1p
 

NOTES

1.The interim figures for the six months to 31 October 1999,
  which  are unaudited, have been prepared on the basis of  the
  accounting policies set out in the Annual Report and Accounts
  for  the year ended 30 April 1999.  The financial information
  contained in this Interim Report does not amount to statutory
  accounts within the meaning of section 240 of the Companies Act
  1985.
  
  The  results  for  the  year ended 30 April  1999  have  been
  extracted  from  the published accounts for  that  period  on
  which the auditors gave an unqualified report and which  have
  been delivered to the Registrar of Companies.
  
2.Earnings  per share are calculated on 8,807,279  ordinary
  shares in issue during the six months (October 1998: 8,737,279,
  April 1999: 8,807,279).

3.This  statement  is  being  sent  to  shareholders.   In
  addition, copies are available from the Company Secretary  at
  the Registered Office.