Performance Report

PARAGON GROUP OF COMPANIES PLC
31 August 1999

          THE PARAGON GROUP OF COMPANIES PLC RELEASES PERFORMANCE 
            REPORT ON ITS SPECIAL PURPOSE VEHICLE COMPANIES
 
The Paragon Group of Companies PLC has released the August 1999 performance
reports in respect of the special purpose vehicles ('SPVs') which are owned
directly or indirectly by the Company and which have publicly issued notes
outstanding.

The reports are available on the Company's web site at the following address:
www.paragon-group.co.uk

For further information please contact: John Harvey
                                        The Paragon Group of Companies PLC
                                        Tel: [phone]