Issue of Equity

Pathfinder Properties PLC
04 March 2003




     Pathfinder Properties PLC ('Pathfinder' or 'the Company') Announcement

The Board of Pathfinder announces that, on 26 February 2003, the Company
allotted 50,506 ordinary shares of 10p each in exchange for 6,122 ordinary
shares of £1 each in Pathfinder Recovery 1 Limited. The issued share capital of
the Company following the allotment is £7,979,593.40 divided into 79,795,934
ordinary shares of 10p each.  The Company's interest in Pathfinder Recovery 1
Limited is now 95.52% of the issued share capital of that company (previously
95.38%).



Enquiries:


John Parry, Chairman
Malcolm Bacchus
Pathfinder Properties
Tel: [phone]


Robert Lo
Nabarro Wells & Co. Limited
Tel: [phone]


Peter Trevelyan-Clark
Teather & Greenwood
Tel: [phone]


Jeremy Carey
Tavistock Communications
Tel: [phone]




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