Re: Further Expansion in UK

McInerney Holdings PLC
13 October 2003



Monday, 13th October 2003



                      FURTHER EXPANSION IN UK BY MCINERNEY


McInerney Holdings plc today announces a further expansion of its activities in
the UK market.  Hillview Securities, its commercial subsidiary, which has
developed over 400,000 sq ft of industrial units and 500,000 sq ft of retail/
commercial units in Ireland, has announced the purchase of a business unit for
redevelopment at the Park Royal industrial estate, adjacent to Heathrow Airport.
The freehold unit is 105,000 square feet and in addition incorporates a one-acre
plot with development potential. The property was purchased for stg£7.7m (€
11m). To date agreements have been reached for the resale of 70,000 sq.ft of the
unit by Hillview Securities with two UK companies.

According to Barry O'Connor, Managing Director, McInerney Holdings plc the
purchase is indicative of the Group's objective to broaden its business spread
within the UK through a measured approach.  He stated that demand for freehold
industrial units in the West London region is buoyant.

'This purchase was a strategic opportunity for Hillview Securities to take
advantage of a business opportunity whilst also realising the Group's objective
of expanding its geographical base in the UK,' says Mr O'Connor.  'The freehold
industrial market in West London and Park Royal is considered strong. With the
leasing market sluggish, Hillview has identified an opportunity to benefit from
the demand that exists for freeholds, particularly in the 5,000 sq ft to 50,000
sq ft range.'

Hillview Securities intends to resell the remaining 35,000 sq ft unit space
following their refurbishment and redevelopment into a number of business units.
In addition, it is seeking planning permission for the one-acre plot to
develop additional business units.  It is currently at the planning stage in
this regard.


ENDS




About McInerney Holdings plc

McInerney Holdings plc is one of Ireland's leading development companies, with
divisions specialising in various aspects of the construction market. McInerney
Holdings plc comprises four divisions operating in Ireland, Spain and the United
Kingdom. The company is Ireland's largest national homebuilder, and undertakes
extensive commercial and leisure projects both in Ireland and abroad. The
company is listed on the Dublin and London Stock Exchanges (ISE: MCI.I/LSE:
MCI).




FOR INFORMATION:

Siobhan Molloy                                Tel: [phone] or 086 817 5066
Weber Shandwick FC




This announcement has been issued through the Companies Announcement Service of
                           the Irish Stock Exchange.




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