Offer Acceptances/Extended

Property & Capital Group PLC
14 December 1999


PROPERTY & CAPITAL GROUP PLC

OFFER FOR NORCITY III PLC

As at 3.00pm today, the offer by Property & Capital Group PLC for the whole
issued share capital of Norcity III PLC had reached an acceptance level of
92.01 per cent and this offer has been extended to 3.00pm on 29 December 1999.