Sub Division Ordinary Shares

Gleeson(M J)Group PLC
01 June 2004

Tuesday 1 June 2004

                              MJ GLEESON GROUP PLC

                Proposed 5 for 1 Sub-Division of Ordinary Shares
                                        
Gleeson, the construction, homes and property group, proposes to sub-divide each
issued and unissued ordinary share of 10p each into five ordinary shares of 2p
each.

Gleeson's middle market share price as at close of business on Thursday 27 May
2004 was £11.15. The Directors believe that having a larger number of shares
with a lower share price should assist in improving the liquidity of the
Company's shares and support the attraction and retention of a diverse
shareholder base. The proposed sub-division will affect neither the Group's
financial position nor each shareholder's percentage interest in the issued
share capital of the Company.

A circular is today being posted containing a notice convening an Extraordinary
General Meeting of the Company for Wednesday 30 June 2004. If the resolution to
implement the sub-division is passed, it is expected that dealings in the new
Ordinary Shares will commence on Tuesday 6 July 2004.

Further information in respect of the proposed sub-division is contained in the
circular, copies of which may be requested directly from the Company. Copies
have been submitted to the United Kingdom Listing Authority ('UKLA') and will
shortly be available for inspection at the UKLA's Document Viewing Facility,
situated at:

                          Financial Services Authority
                             25 The North Colonnade
                                  Canary Wharf
                                 London E14 5HS

Enquiries:

M J Gleeson Group plc                                            020-8644 4321
Dermot Gleeson (Executive Chairman)
Andrew Muncey (Group Managing Director)
Colin McLellan (Finance Director)

Bankside Consultants Limited
Charles Ponsonby                                                 020-7444 4166



                      This information is provided by RNS
            The company news service from the London Stock Exchange