Result of EGM

Terrace Hill Group PLC
05 May 2005

For immediate release                                                 5 May 2005



             TERRACE HILL GROUP PLC ('the Group' or 'Terrace Hill')





                    Result of Extraordinary General Meeting



          Acquisition of Minority Interest - Transaction with Director



Terrace Hill, the AIM traded property group, announces that at the Extraordinary
General Meeting of the Group, held on 5 May 2005, shareholders approved the
implementation of the acquisition of the outstanding 15% of Terrace Hill North
East Limited ('THNE') from Philip Alexander Leech, Managing Director of Terrace
Hill, as referred to in the announcement by the Group made on 19 April 2005.



Pursuant to the Share Purchase Agreement between Mr Leech and the Group dated 18
April 2005 the consideration of £1,116,357 has been satisfied half in cash and
half by the issue to Mr Leech of 1,395,447 new Ordinary Shares of 2p each of
Terrace Hill at a price of 40p each.



Application has today been made for the 1,395,447 new Ordinary Shares forming
part of the consideration to be admitted to trading on the AIM market and it is
expected that dealings in the new Ordinary Shares will commence on 11 May
2005.The new Ordinary Shares will rank pari passu with all existing Terrace Hill
shares in issue and following completion of this acquisition, the Group has
187,218,824 Ordinary Shares of 2p nominal value in issue.



Subsequent to the issue of the new Ordinary Shares to Mr Leech, the interest of
Mr Leech in the share capital of the Group has increased to 1,464,447 Ordinary
Shares representing 0.78% of the enlarged issued share capital of the Group.





Contacts:



Robert Adair, Chairman, Terrace Hill Group PLC                Mob: [phone]

Tel: [phone]

Nigel Turnbull, Deputy Chairman, Terrace Hill Group PLC       Tel: [phone]

Hugo de Salis/Isabel Crossley, St Brides Media & Finance Ltd  Tel: [phone]

Alasdair Robinson, Noble & Company Limited                    Tel: [phone]



Notes to editors:

Terrace Hill Group PLC is an AIM traded Property Group with NAV £70 million. It
has two divisions, Commercial Development throughout the UK and Residential
Investment and Development in Scotland and the North of England, with a
development programme of almost £600 million with approaching £200 million
underway. Terrace Hill recently reported an increase of over 25% in both NAV and
pro-forma Triple NAV to 38.12p per share and 39.99p respectively in the year to
31 October 2004, and an increase in final dividend from 0.15p per share to 0.50p
per share.


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