Statement re Disposal

Strictly embargoed until 07.00 1st November 2004


                                FLETCHER KING PLC
                Sale of shareholding in Fletcher King Manchester

Fletcher King PLC, the London based property fund managers, asset managers and
chartered surveyors, announces today that it has completed the sale of its 30%
shareholding in Fletcher King Manchester ("FKM") to Colliers CRE.

FKM, the Manchester based firm of chartered surveyors specialising in industrial
property agency work has been sold for an aggregate consideration of £435,000.

Commenting on the sale, David Fletcher, chairman of Fletcher King PLC, said:

"Fletcher King's primary business focus is now property investment and asset
management. As such it makes sense for us to sell this non-core business and we
are delighted to complete the sale of our shareholding in FKM to Colliers CRE."

                                       END

Issued by mj2 ltd on behalf of Fletcher King PLC

For further information, please call:

Tim McCall,    mj2 Ltd                       020 7491 7776