Statement re Special Dividend

Helical Bar PLC
19 March 2002

19 March 2002


                 Helical Bar plc ('Helical Bar'/ the 'Company')

                          £30 MILLION SPECIAL DIVIDEND

Helical Bar announced today that it intends to distribute profits from recently
completed developments and investment property sales to shareholders by means of
a 100p Special Dividend per share, as was done in 1999.

Recent transactions include the sale of the 100,000 sq.ft. office development at
3 Bunhill Row, London EC2, the 20,000 sq.ft. office investment at 48 Gracechurch
Street, London EC3 and the 14,000 sq.ft. office development Saunders Building in
Hammersmith.  It has also received its profit on the 65,000 sq.ft. pre-funded
office development at 200 Hammersmith Road.  Proceeds of over £50m have been
generated by these transactions.  Further sales are in lawyers' hands.

It is the Board's view that shareholders should benefit from realised
development profits and revaluation surpluses by way of a Special Dividend.
This dividend will be paid on 26 April 2002 to shareholders on the register on 2
April 2002.  The Special Dividend will not affect the Company's dividend policy
and it is intended that the final dividend for the year ending 31 March 2002
will be not less than 8.25p per share, representing an increase of 10 per cent
over the final dividend for the year ending 31 March 2001 of 7.50p per share.
This makes a total dividend for the year of not less than 13.75p, an increase of
10 per cent.

With conservative gearing levels, cash in hand and undrawn bank facilities in
excess of £100m, the Company remains well placed to take advantage of new
opportunities that arise.

Chairman John Southwell said 'In the 18 years since Helical became a property
company we will have returned over £107m in dividends and share buybacks to
shareholders raising less than £41m from them along the way.  Our share price
has moved from 4p in 1984 to 817.5p today and our market capitalisation from
£0.6m to over £240m.  The Company will continue to concentrate on high margin
business seeking to maximise growth in assets per share using a recurring stream
of development and trading profits to build up the investment portfolio.  Where
these profits are not required by the business they will be distributed to
shareholders.'

Further information:

Michael Slade/ Nigel McNair-Scott
Helical Bar
Tel: [phone]

Andrew Dowler/ Stephanie Highett
Financial Dynamics
Tel: [phone]

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