Planning Consent

Northacre PLC
05 December 2007

                                 THE KENSINGTON

                                PLANNING CONSENT





Northacre plc is proud to announce that the Committee of the Royal Borough of
Kensington and Chelsea has unanimously voted in favour of granting a planning
consent for the residential and cinema development proposal on the Kensington
Odeon site.



The consent allows approximately 100,000 sq.ft. of private high-end residential
apartments and townhouses above ground with an all new six screen state of the
art Odeon cinema below ground.



The development site was acquired in a joint venture with Minerva plc in
November 2005.



John Hunter, Chief Executive of Northacre plc, said



' Following more than two years of public consultation we are proud to have
achieved planning consent for this residential and cinema scheme in prime
Central London. The Kensington will now be another landmark revival scheme.'





All Enquiries:



Northacre Plc                        020 7349 8000

John Hunter, Chief Executive
Manish Santilale, Finance Director


KBC Peel Hunt Ltd                   020 7418 8900

Capel Irwin
Nicholas Marren




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