Trading Statement

First Property Group PLC
01 April 2008

Date:                 01 April 2008

On behalf of:         First Property Group plc ('First Property' or the 'Group')

Embargoed for:        0700hrs



First Property Group plc

Pre-close update



First Property Group plc (AIM: FPO), the AIM-listed property services group
specialising in commercial property fund management, today issues a trading
update ahead of entering its closed period for the year ended 31 March 2008.



The Group's core commercial property fund management activities are continuing
to progress extremely well, particularly in its core market of Poland. As
previously indicated by the Group, the property markets in Central and Eastern
Europe have been relatively unaffected by the credit crunch, and the Group
believes that this continues to be the case.  Total assets under management
currently amount to approximately £270 million (30 September 2007 - £240
million) and the Group continues to see good property opportunities on
attractive terms.



First Property Services Limited, the Group's facilities maintenance and building
services subsidiary, which was established in 2006, has also continued to
develop satisfactorily and has made a useful contribution to the overall
results.



The benefit of the successful investments made by First Property on behalf of
the funds it manages, in particular the fund managed on behalf of the
Universities Superannuation Scheme ('USS'), will be reflected in the level of
performance fees earned by the Group. The Directors estimate that these will be
approximately £3.0 million (net) for the year, based on the funds' performance
over the past three years. The precise level of performance fees is subject to
audit.



As a result of this, and generally stronger than expected results in the Group's
  businesses, the Directors now expect the profit before taxation for the year
to be materially ahead of market expectations, and in the region of £6.0 million
(31 March 2007 - £1.2 million).



First Property expects to be issuing its preliminary results statement in early
June.



Ben Habib, chief executive of First Property Group, said:



'We are delighted with our progress in the current year, which has substantially
exceeded market expectations.  Our selected markets provide a favourable trading
environment, with good macro-economic and property market conditions. We remain
vigilant in case the continued credit crunch begins to affect our markets but as
yet there is no sign of this. I look forward to further significant progress as
we enter a new financial year.'







Enquiries to:



Ben Habib, Chief Executive                       www.fprop.com
First Property Group plc                         Tel: [phone]

Chris Hardie, Corporate Finance Director         [e-mail]
Arden Partners                                   Tel: [phone]


Emma Kane / Adam Leviton                         [e-mail]
Redleaf Communications Ltd                       Tel: [phone]



Notes to Editors:



•             First Property Group plc was established in March 2000 by Chief
Executive Ben Habib, to provide a number of property services which include
property fund management, property trading, and facilities management.



•         The Company listed its shares on the Alternative Investment Market
(AIM) in December 2000.



•       First Property Group plc is a property services group which consists of
the following core services:



- Property Fund Management - established in August 2002 and provided by a wholly
owned subsidiary, First Property Asset Management Ltd (FPAM), now with
operations in the UK, Central and Eastern Europe;



- Property Trading - established in August 2001 also provided by FPAM, now with
operations in the UK, Central and Eastern Europe;



- Facilities Management - acquired 60% of First Property Services Ltd in
February 2006, with operations in the UK and clients including: Credit Suisse,
Canary Wharf, the BBC, Coutts Bank and Exxon Mobil.



•      Further information about the Company and its products can be found at:
www.fprop.com







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