Disposal

Gleeson(M J)Group PLC
24 March 2006




                              M J GLEESON GROUP PLC
                                        

                     £23.3m disposal of Gleeson MCL Limited


Gleeson announces the disposal of its subsidiary, Gleeson MCL Limited, to Morgan
Sindall plc for a cash consideration of £23.3m.


Gleeson MCL is a construction services business involved in railway engineering
contracting, in particular work for and in partnership with London Underground
Limited. Based at Hatfield, Hertfordshire, Gleeson MCL has 143 employees, all of
whom will be transferring to Morgan Sindall.


Gleeson MCL's audited accounts for the year to 30 June 2005 disclose an
operating profit of £1.8m and a pre-tax profit of £2.1m. As at 30 June 2005,
Gleeson MCL had gross assets of £18.1m, including net cash of £6.1m.


The cash consideration of £23.3m is subject to adjustment either way to the
extent that the net assets at completion differ from £8.1m.


Gleeson acquired what was renamed Gleeson MCL for £6.1m in January 2000. The
disposal has resulted in a net cash inflow to Gleeson estimated at £18.5m, which
will be used initially to reduce its indebtedness.


Gleeson MCL is led by Danny Duggan, 48, who graduated from Aston University in
Birmingham and then spent five years with Tarmac Construction Ltd before joining
Gleeson MCL (formerly Mabey Construction) in 1984. In 1998, Danny was promoted
to its Contracts Director and in 2004 he became its Managing Director.


Danny is supported in the management of Gleeson MCL by Mike Sellers (Chief
Quantity Surveyor), Ron New (Commercial Director), Bill Pike (Contracts
Director) and Steven Holmes (Contracts Director) who have all been with the
business for over 18 years.


Gleeson expects to announce its interim results for the six months to 31
December 2005 on Friday 31 March 2006. At the same time, the Group will provide
details of its strategic review.

Enquiries:

M J Gleeson Group plc                                              020-8644 4321
Terry Massingham (Chief Executive)
Paul Wallwork (Finance Director)

Close Brothers Corporate Finance Limited
Peter Alcaraz                                                      020-7655 3139

Bankside Consultants Limited
Charles Ponsonby                                    020-7367 8851/07789-202  312





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