EGM Statement

Pathfinder Properties PLC
26 April 2001

From:        Nabarro Wells & Co. Limited

To:          Company Announcements Office

Date:        26 April 2001

Subject:     ANNOUNCEMENT

Release:     IMMEDIATE

ANNOUNCEMENT FOLLOWS:

PATHFINDER PROPERTIES PLC ('THE COMPANY')

Extraordinary General Meeting

The Directors of the Company announce that the Ordinary resolution proposed at
the Extraordinary General Meeting held earlier today in connection with the
offers for the whole issued share capital of Pathfinder Recovery 1 PLC and
Pathfinder Recovery 2 PLC was duly passed.

Enquiries:

Simon Dawkins, Pathfinder Properties PLC 020 7736 9669

Robert Lo, Nabarro Wells & Co. Limited 020 7710 7400



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