Portfolio Update Conditional sales of Liverpool...

For immediate release

GRESHAM HOUSE PLC
("Gresham" or "the Company")

Conditional sales of Liverpool and Dorking properties

Gresham  House  plc  (GHE.L) is pleased to announce two significant  conditional
property transactions as follows:-

(i)  An  agreement  has  been signed with Linden Limited for  the  sale  of  the
     Group's  investment  property  interests in Vincent  Lane,  Dorking  for  a
     consideration  of  £8.2 million conditional only upon  planning  permission
     being granted for residential development by November 2008. The property is
     currently held through the Company's wholly owned subsidiary Wolden Estates
     Limited.

     For  the  year  ended 31st December, 2006 this investment  produced  rental
     income  of  £224,000  and  it  was valued in the  Group  accounts  at  31st
     December,  2006 at £2.9 million. It is envisaged that, when  received,  the
     sale proceeds will be utilised for working capital purposes.

(ii) Under  a  separate  transaction heads of terms, which do not  constitute  a
     legally  binding  commitment at this stage, have been signed  with  another
     third  party  for  the  sale  of  Gresham's  property  interests  on  Speke
     Boulevard, Speke, Liverpool for a consideration of £61 million  or  85%  of
     market   value  -  whichever  is  the  higher,  conditional  upon  planning
     permission  being  granted  for change of use to  A1  retail.  As  at  31st
     December,  2006  these interests were valued in the Group  accounts  at  £9
     million.  The  heads of terms include a provision that planning  permission
     must  be  obtained  within  5  years from the  date  of  Gresham  obtaining
     shareholder  approval. This proposed sale will now be put into  solicitors'
     hands to prepare formal contracts.

     As  the  proposed Speke transaction falls within Rule 10.5 of  the  Listing
     Rules, shareholder approval will be required. An explanatory circular  will
     be  sent  to  shareholders in due course once formal  contracts  have  been
     agreed together with a Notice convening an Extraordinary General Meeting of
     the Company.

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Further information:
     A P Stirling (Chairman  Gresham House) 020 7456 9600
     Toby Hall/Jade Mamarbachi (gth media relations) 020 7153 8039/8035