Holding in Newark Development

Pathfinder Properties PLC
08 April 2004


FOR IMMEDIATE RELEASE                                            8 April 2004


                           Pathfinder Properties PLC
                       Holding in Newark Development Site

Pathfinder Properties PLC ('Pathfinder' or the 'Company') announces that it has
acquired, for £860,000, the 25% interest from Corolla Associates, its joint
venture partner, in Newark Property Development Limited and Fletcher Gate
Limited, formerly joint venture companies, which acquired the Brewery and
Maltings and adjacent land in Northgate Newark, Lincolnshire in July 2002. This
acquisition gives Pathfinder a 100% holding in the development.

The site comprises 6.5 acres of land and contains on part of the site a
substantial Grade II listed Victorian brewery building. It is one of the largest
development sites available in Newark, close to the town centre, and overlooks
the River Trent and the Newark Marina.



Contact:    Gerry Lee, Pathfinder Properties PLC on 020 8731 0110
            Roland Cornish, Beaumont Cornish Limited on 020 7628 3396


                      This information is provided by RNS
            The company news service from the London Stock Exchange