Sale of Office Development

Terrace Hill Group PLC
23 September 2003


TERRACE HILL GROUP PLC (the 'Group')


Sale of Office Development


The Group announces that it has exchanged contracts to sell its completed
development known as The Cube, Barrack Road, Newcastle-upon-Tyne, at a price 
of £4.65 million payable in cash.

The 24,000 sq ft office development, near St James's Park, and with spectacular
views over the city, has been sold to a local professional firm. The price
reflects a normal speculative development margin which will contribute to the
current financial period to 31 October 2003.


Enquiries:


Miranda Kelly, Terrace Hill Group plc              0141 332 2014

David Ovens, Noble & Company Limited               0131 225 9677

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