Trading Update

McInerney Holdings PLC
19 January 2006

Thursday, 19 January, 2006



MC INERNEY HOLDINGS PLC

                     TRADING UPDATE FOR YEAR ENDED 31/12/05



Ireland, Dublin: McInerney Holdings plc ('McInerney' or 'Group') today released
a trading update for the year ending 31st December 2005.  The trading highlights
record a favourable performance for the year. Preliminary financial results for
the Group, in accordance with IFRS, will be published on 23rd February 2006.



2005 Trading highlights:

•         Total private house completions for the Group (Ireland, UK and Spain)
increased by 13% to 1,831 in 2005, compared to 1,614 units at year end 2004.



•         Entering 2006 total housing deposits on hand (Ireland, UK and Spain)
are 895. These comprise 551 in Ireland, 278 in the UK and 66 in Spain.



•         Private house completions in Ireland were 1,138 in 2005 compared to
1,101 in 2004.



•         House completions in the UK were 658 in 2005, an increase of almost
32% on the 500 housing units completed in 2004.  The Group now operates 38
private housing sites in the North of England.



•         McInerney Spain completed 35 units in 2005 as compared to 13 units in
2004.



•         Hillview Securities, the Group's commercial division, recorded an
excellent performance in 2005 handing over 15,339 sq m of industrial units as
compared to 8,289 sq m in 2004.  It is witnessing continued robust demand for
industrial units across its UK and Irish commercial sites with a strong level of
reservations on hand for 2006.



•         The Irish contracting business achieved a significant increase in
operations in 2005 with 182 housing units being completed as compared to 116 in
2004. Total contracting turnover from housing and commercial contracts rose from
€43m to in excess of €50m. Further growth is expected in 2006.



Barry O'Connor, Managing Director expressed satisfaction with progress achieved
in 2005 stating that the Group was comfortable with market earnings'
expectations.



'As we enter 2006, our market presence is in key areas of solid demand and our
product strategy is well placed.  Good demand is being experienced in the Irish
and UK housing markets.  As we previously indicated, our UK business picked up
steadily throughout the second half of the year and unit growth was over 30%. We
would expect 2006 to see further operational increases in our UK business as new
regions commence output.  Our land banks in Ireland and the UK have been
augmented in core locations to take best advantage of expected favourable
demand,' stated Barry O'Connor.



                                      ENDS

FOR INFORMATION:

Siobhan Molloy                                    Tel: [phone]

Weber Shandwick FCC                      or [phone]









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). See www.mcinerney.ie for further information.





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






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