ISSUE OF LETTER TO SHAREHOLDERS

GRESHAM HOUSE PLC

ISSUE OF LETTER TO SHAREHOLDERS

The  Company  announces  that a letter is being sent to  shareholders  today  in
response   to  letters  sent  to  certain  shareholders  by  Parkwood   Property
Investments LLP, the Rowe Trust and Mr Fintan Earley.

Copies of the circular have been delivered to the UK Listing Authority and  will
shortly  be  available  for  inspection at the UK Listing  Authority's  Document
Viewing Facility, which is situated at:

Financial Services Authority
25 The North Colonnade
Canary Wharf
London E14 5HS

Tel No. [phone]

The  letter  will  also  be  available for viewing  on  the  Company's  website:
www.greshamhouse.com.


3 October 2008