Potential Investors Update

Pathfinder Properties PLC
09 January 2004



Press announcement-for immediate release


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


Potential Investors in the Company


Further to the announcement made on 28 November 2003, the Board of Pathfinder
announces that it has now received indicative proposals from two parties who
have expressed interest in acquiring the whole of the issued share capital of
the Company. These proposals are at values which are significantly in excess of
the current share price.


The Company's advisers were instructed in November 2003 to approach potential
investors in the Company, primarily with a view to acquiring a substantial
interest in the issued share capital of the Company.  Several parties (in
addition to those referred to above) have also expressed interest in acquiring
either some or all of the issued share capital of the Company. Further proposals
may be forthcoming.



The Board is discussing these proposals with the parties involved and a further
announcement will be made when appropriate.



                                                            Dated 9 January 2004


For further information:



John Parry/Malcolm Bacchus, Pathfinder Properties PLC  [phone]
Robert Lo/Marc Cramsie, Nabarro Wells [phone]
Jeremy Carey, Tavistock Communications   [phone]





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