Offer Update

Pathfinder Properties PLC
30 August 2001

Pathfinder Properties PLC

As at the 29th August 2001 acceptances in respect of the offer for Pathfinder
Recovery 1 were as follows:-


Complete acceptances in respect of the shares offer:         973,090 (21.05%)  

Incomplete acceptances in respect of the shares offer:        11,783 ( 0.25%)  

Complete acceptances electing for cash:                    3,201,136 (69.26%) 

Incomplete acceptances electing for cash:                     26,389 ( 0.57%)


Therefore, the total of completed acceptances in respect of the offer now
amounts to 90.32%.