75m Funding for UNITE

Unite Group PLC
12 December 2000

Date:               12 December 2000

Embargoed Until:     0700hrs



UNITE SECURES £75 MILLION DEVELOPMENT FACILITY

TO FUND CONTINUED GROWTH



The UNITE Group plc, the UK's fully listed, leading specialist provider of
student and NHS key worker accommodation services, has secured a five year
syndicated revolving development facility of £75 million.

The syndicate of lenders, arranged by Robert Fleming and Co Ltd is made up of
Fortis Bank SA/NV, who will also act as agent, Halifax plc and The Cooperative
Bank plc.

The development facility represents a key milestone in financing the Group's
rapid growth. It is anticipated that four existing schemes, which will be
worth £24.2 million on completion, will be funded by the facility this
year, with up to ten further schemes likely to be financed through the
facility by 30 June 2001.

Commenting on the announcement, Neal Ledger at Fortis Bank, said:

'We are delighted to be Lead Manager and Agent for this significant
development facility. For Fortis Bank, Halifax and Cooperative Bank, this
represents the beginning of a new relationship with UNITE.'

Nicholas Porter, Chief Executive at UNITE, said:

' UNITE has sought this committed development facility in order to reduce the
Group's overall cost of debt through improved rates of interest and
proportionally lower arrangement costs. In line with our plans, I am delighted
to announce this new £75 million facility which is both flexible and
competitively priced.

Press Enquiries to:

Emma Kane, Chief Executive                           Tel: [phone]

Redleaf Communications Ltd                           Mob: [phone]

Nick Porter, Chief Executive                         Tel: [phone]

The UNITE Group plc



Neal Ledger                                           Tel: [phone]

Fortis Bank SA/NV


Notes to Editors:

  * UNITE was founded in 1991 by Nick Porter
  * UNITE is fully listed on the London Stock Exchange and is currently
    capitalised at £128.5m.
  * UNITE is the UK's leading specialist provider of accommodation services
    for students and key workers.
  * Further information is available at the Company's website at
    www.unite-group.co.uk
  * www.bunk.com is a comprehensive, on-line accommodation service for
    university students launched by UNITE in September 2000.



ends