Purch/Cancellation of shares

Mountview Estates PLC
12 November 2001


MOUNTVIEW ESTATES P.L.C. ('MOUNTVIEW' OR 'THE COMPANY')

Mountview announces that, pursuant to the approval of the special resolution
at the Extraordinary General Meeting held earlier today, the Company has
purchased, and subsequently cancelled, 688,061 ordinary shares of 5p each in
the capital of the Company (representing 14.99% of the Company's ordinary
share capital at the time of purchase) at a price of £24 per share as detailed
in the circular to shareholders dated 18 October 2001.