Special Purpose Vehicle Co

PARAGON GROUP OF COMPANIES PLC
9 July 1999


           THE PARAGON GROUP OF COMPANIES PLC PUBLISHES PERFORMANCE
 
               REPORT ON ITS SPECIAL PURPOSE VEHICLE COMPANIES


The Paragon Group of Companies PLC has today published booklets containing the
April, May and June 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.

Copies of the booklets are available from the company's London office at 6
Greencoat Place, London, SW1P 1PL or from the Company Announcements office of
the London Stock Exchange, Stock Exchange Tower, Old Broad Street, London, 
EC2N 1HP.

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