Additional Listing

First Property Group PLC
07 July 2004


                            First Property Group plc
                      ('First Property' or 'the Company')

           First Property raises £2.9 million for business expansion


First Property, the AIM-listed online commercial property transaction platform
and property asset manager, announces that it has conditionally raised
approximately £2.9 million before expenses through a placing for cash of
18,125,000 new First Property ordinary shares ('the Placing Shares') at 16 pence
per share ('the Placing Price') ('the Placing').

The Company plans to continue its rapid development and to invest the net
proceeds of the Placing in acquisitions and in supporting the development of its
core businesses.

The Placing Shares, which represent approximately 19.5 per cent of the Company's
issued share capital prior to the Placing, have been conditionally placed with
both existing and new institutional investors by the Company's broker Arden
Partners.  Alasdair Locke, Chairman of First Property, has acquired 156,250
Placing Shares and Ben Habib, Chief Executive, has acquired 312,500 Placing
Shares.   The Placing Price is the same as the closing middle market price on 5
July 2004.

Application is being made for the Placing Shares to be admitted to the
Alternative Investment Market of the London Stock Exchange ('Admission').  The
Placing is conditional on Admission, which is expected to become effective on 26
July 2004.  The Placing Shares will rank pari passu in all respects with the
Company's existing ordinary shares.

Following the Placing the Company will have a total of 111,279,448 ordinary
shares in issue.

Announcing the Placing, First Property's Chief Executive, Ben Habib, said:

'During the last 18 months our business has established itself and grown at a
tremendous pace.  These funds will further underpin our growth and allow us to
take advantage of opportunities as they arise.'

Arden Partners acted as Nominated Adviser and broker to First Property in
respect of the Placing.


For further information please contact:

Ben Habib - Chief Executive
First Property Group PLC
Telephone - 020 7731 2844
www.fprop.com

Andrew Raca - Corporate Finance Director
Arden Partners Limited
Telephone - 0121 423 8941

Peter Willetts/Marylene Guernier
Tavistock Communications
Telephone - 020 7920 3150


                      This information is provided by RNS
            The company news service from the London Stock Exchange