Acquisition of Leinster House

Minerva PLC
23 August 2007

                      Acquisition of Leinster House Hotel

Minerva plc announces that in joint venture with Northacre Plc it has acquired
the LLH Limited Partnership (LLH) from Mr & Mrs Gerrard for a cash consideration
of £5.

LLH has conditionally contracted to acquire the Leinster House Hotel, London W2
(the Property) for a cash consideration of £20 million and the assets and hotel
business carried on at the Property for a cash consideration of £250,000. LLH
has no other assets.  Completion is expected to take place in early October
2007.

The Property is to be acquired with the benefit of a "block booking" agreement
with Westminster City Council. Net income from the Property (after costs) is
estimated at £0.8 million per annum.

Commenting on today's announcement, Salmaan Hasan, Chief Executive of Minerva
plc, said:

"This acquisition presents Minerva with an attractive medium-term residential
development opportunity and further expands the Group's development pipeline".



All Enquiries:

Brunswick Group LLP                                               020 7404 5959

James Bradley/Tom Williams



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