Trading Update

Terrace Hill Group PLC
15 November 2005



                    TERRACE HILL GROUP PLC ('Terrace Hill')



                                 Trading Update



                 New financial year starts with early activity





Terrace Hill announces the acquisition of a site at Filton, Bristol and
development land in Scotland.



At Filton in Bristol, Terrace Hill announces that it has exchanged contracts to
acquire a 2.6 acre site on which it plans to develop 42,000 sq ft of small
offices with a view to freehold sales with a completed value in excess of £10
million.  The development is planned to be carried out in two phases with start
on site of the first phase of nine buildings early in the New Year.



Philip Leech, Managing Director, commented 'The North Bristol office market for
small units is seeing good demand, and there are no other similar schemes in the
vicinity.  This latest acquisition takes our expanding development programme to
around £650 million including joint venture projects. We believe that this will
be a powerful engine for Terrace Hill's significant continuing growth in triple
net asset value.'



Terrace Hill has also added to its landbank for future residential development
in Scotland, with the acquisition of further land in West Lothian, extending to
around six acres.  It has also submitted a planning application for the
development of 174 detached houses at one of its sites at Torbothie Road,
Shotts, Lanarkshire on which it is hoped to start development in 2006.



Robert Adair, Chairman commented 'We are making important progress in expanding
our residential development activities in Scotland: currently we have, alone and
in joint venture, sites with potential for around 1,100 new homes. I believe
this will make a very material contribution towards our future growth'.



                                  * * ENDS * *



For further information please contact:



Philip Leech, Terrace Hill Managing Director           Tel: [phone]

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

Isabel Crossley, St Brides Media & Finance Ltd         Tel: [phone]





Notes to editors:



Terrace Hill Group PLC is an AIM traded Property Group with NAV £74 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 some £650 million.  Terrace Hill 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.  Further increases to 39.66p per share
and 44.02p per share respectively together with an interim dividend of 0.5p per
share (previous interim 0.3p) were announced with the Group's half yearly report
to 30 April 2005.




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