Further re Offer for Oakburn

Panther Securities PLC
23 October 2003


                                                           For immediate release


                                                              23rd October, 2003


                            Panther Securities P.L.C
                          ('Panther' or the 'Company')


                  Further re Offer for Oakburn Properties PLC


The Board of Panther notes the announcement made earlier today by Oakburn
Properties PLC regarding its issued share capital and the outstanding options
over ordinary shares of £1 each.


The terms of the cash offer made to all shareholders of Oakburn Properties PLC,
announced on 17th October, 2003, included an adjustment mechanism in relation to
the number of options outstanding.


As the number of outstanding options is now 96,000, the terms of the cash offer
have been increased to 576.67p per share.



Enquiries;


John East & Partners Limited

David Worlidge/Simon Clements                                        Tel: 020
7628 2200


The Directors of Panther Securities PLC accept responsibility for the
information contained in this announcement and have confirmed that the
information contained in it is in accordance with the facts (having taken all
reasonable care to ensure that such is the case) and does not omit anything
likely to affect the import of such information.


John East & Partners Limited, which is regulated in the United Kingdom by the
Financial Services Authority, is acting as the independent financial adviser to
Panther Securities P.L.C and to no one else and will not be responsible to
anyone other than Panther Securities P.L.C for providing the protections
afforded to clients of John East & Partners Limited or for providing advice in
relation to the matters contained in this announcement. If you are in any doubt
about the contents of this announcement or what action you should take you
should immediately seek your own personal advice from an independent financial
adviser authorised under the Financial Services and Markets Act 2000 who
specialises in advising on the acquisition of shares and other securities.







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