Final Results

Mountview Estates PLC
18 June 2001

Stock Exchange announcement

MOUNTVIEW ESTATES P.L.C.

Chairman's Statement

The year ended 31 March 2001 shows an advance on the then record profits of £
19,063,803  for year ended 31 March 2000 to  £ 20,008,388  and your Board
recommend a final dividend of 48 pence per share, which raises the total for
the year to 78 pence per share compared with last year's total of 72 pence per
share.

Turnover remains at the same level as last year; profits are up by 5% from £
19,063,803 to £20,008,388: earnings per share are up by 5.5% from 289.2 pence
to 305. pence and the dividend is nearly four times covered.

It is customary for me to use this statement to thank my colleagues     and
staff for their contributions to the Company's success and they      have
again done a superb job and have risen to the challenge of building on last
year's strong results.

The Company has made a steady start to the current financial year. It is still
too early, however, for me to say anything about likely trends over the full
year.

The final dividend of 48 pence per share  will be payable on 20 August 2001 to
shareholders  on the register at the close of business on 20 July 2001.

A statement of the profits under the historic cost convention is attached.

The Annual General Meeting will be held at the Kenilworth Hotel 97 Great
Russell Street, London WC1B 3LB on Wednesday 15 August 2001 commencing at
11.30 am.


STATEMENT OF PROFITS FOR YEARS ENDED 31ST MARCH


                                                 2001                      2000
                                                    £                         £

Turnover                                   36,492,741                36,283,753
                                             ========                  ========

Operating Profit                           21,683,408                19,944,579

Profit on disposal of investments                   -                    48,837

Deduct: Interest Charges                  (1,675,020)                 (929,613)
                                             ________                  ________
Profit on ordinary activities
before taxation                            20,008,388                19,063,803

Taxation                                  (6,008,861)               (5,796,860)
                                             ________                  ________
Profit on ordinary activities
after taxation attributable
to shareholders                            13,999,527                13,266,943

Dividends:

(Pence per share - net)
                     2001      2000
Interim                30        24
Proposed final         48        48       (3,577,919)               (3,302,694)

                    _____     _____        __________                __________
                       78        72

Retained profits for financial year        10,421,608                 9,964,249

                                            =========                 =========
Earnings per share                              305.p                    289.2p





NOTES:

The results set out above are not full accounts as defined in s.254 of the
Companies Act 1985. The auditors have not yet made a report under s.236 of the
Companies Act 1985 on the accounts for the year ended 31st March 2001 from
which the results are extracted and consequently full accounts for that period
have not yet been delivered to the Registrar of Companies.

The basis of the calculation of earnings per share is the profit on ordinary
activities after taxation divided by the number of ordinary shares in issue
during the year.


CONSOLIDATED CASH FLOW STATEMENT

                       FOR THE YEAR ENDED 31 MARCH 2001

                                                              2001         2000
                                                                 £            £
Cash inflow from operating activities                    8,633,695   19,876,296

Returns on investment and
servicing of finance                                   (1,672,997)    (909,806)

Taxation                                               (6,339,859)  (5,105,336)

Capital expenditure and financial investment           (1,494,675)     (21,367)

Acquisitions and disposals                                 -       (18,223,907)

Equity dividends paid                                  (3,466,955)  (3,346,975)
                                                         _________   __________
Cash (outflow)/inflow before use of liquid resources
and financing                                          (4,340,791)  (7,731,095)

Financing                                                1,840,000    1,290,000
                                                         _________    _________
(Decrease)/Increase in cash in the year                (2,500,791)  (6,441,095)
                                                          ========     ========


Reconciliation of net cashflow movement in net debt

(Decrease)/Increase in cash in the period              (2,500,791)  (6,441,095)

                                                        __________   __________

Change in net debt resulting from cash flows           (2,500,791)  (6,441,095)

New loans falling due after more than one year         (1,840,000)  (1,290,000)

Net debt at 1 April 2000                              (20,783,523) (13,052,428)

                                                        __________   __________
Net debt at 31 March 2001                             (25,124,314) (20,783,523)

                                                        ==========   ==========



BALANCE SHEETS

                             AS AT 31 MARCH 2001



FIXED ASSETS                 Mountview Estates P.L.C. Group

                                   2001          2000        2001          2000
                                      £             £           £             £
Intangible asset                      -       -           265,814       354,420
Tangible assets               1,586,694       200,513  25,320,266    20,432,842
Investments                  18,276,465    18,276,465           -             -
                           ------------- ------------- ------------- -----------
                             19,863,159    18,476,978  25,586,080    20,787,262
                           ------------- ------------- ------------- -----------
CURRENT ASSETS

Stocks                      101,522,263    88,782,392 106,078,226    92,536,737
Debtors:
due within one year             330,934       389,440     416,775       492,975
due after one year                            160,558      -                - -
Cash at bank and in hand        194,694        85,976     261,706       180,639
                           ------------- ------------- ------------- -----------
                            102,047,891    89,418,366 106,756,707    93,210,351
CREDITORS: Amounts falling
due within one year        (25,819,312)  (23,851,223) (26,825,511)  (24,230,445)
                           ------------- ------------- ------------- -----------
NET CURRENT ASSETS           76,228,579    65,567,143  79,931,196    68,979,906
                           ------------- ------------- ------------- -----------
TOTAL ASSETS LESS CURRENT
LIABILITIES                  96,091,738    84,044,121 105,517,276    89,767,168

CREDITORS: Amounts falling
due
after more than one year   (15,049,387)  (12,862,308) (5,930,000))   (4,090,000)
                           ------------- ------------- ------------- -----------
                             81,042,351    71,181,813  99,587,276    85,677,168
                             ==========    ==========  ==========    ===========

CAPITAL AND RESERVES

Called up share capital         229,354       229,354     229,354       229,354
Revaluation reserve             -             -         5,846,215     2,357,715
Capital redemption reserve       20,646        20,646      20,646        20,646
Capital reserve                  24,660        24,660      24,660        24,660
Other reserves                   39,200        39,200      56,000        56,000
Profit and loss account      80,728,491    70,867,953  93,410,401    82,988,793
                           ------------- ------------- -----------   ----------
                             81,042,351    71,181,813  99,587,276    85,677,168
                             ==========    ==========  ==========    ==========