Offer Document Posted

Panther Securities PLC
26 November 2002

                                                           For Immediate Release
                                                             26th November, 2002

                       Panther Securities PLC ('Panther')

                                 Offer Document

On 8th November, 2002 Panther announced its intention to make a recommended
offer for the entire issued share capital of Eurocity Properties Plc 
('Eurocity') not already owned by Panther on the terms outlined in that 
announcement ('Announcement').  Panther announces that it has today posted to 
shareholders of Eurocity Properties Plc the formal offer document and form of 
acceptance which set out the full terms and conditions of the offer.

As explained in the Announcement, the offer document and form of acceptance are
not being despatched to Eurocity shareholders resident in certain jurisdictions
outside the United Kingdom to whom such documents may not be despatched.  The
offer does, however, extend to such persons who may collect copies of the offer
document and form of acceptance from Capital IRG Plc, PO Box 166, New Issues
Department, Bourne House, 34 Beckenham Road, Beckenham, Kent, BR3 4TH.


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