Acquisition

Highcroft Investments PLC
10 October 2002

                           Highcroft Investments plc

                                  Acquisition


On 9 October 2002 a subsidiary of Highcroft Investments PLC, Rodenhurst Estates
Limited, completed the purchase for cash of a property located in Leamington
Spa, Warwickshire, at a purchase price of £1,405,000.  The property comprises a
retail unit let to Thorntons PLC for a term of 15 years from April 1999.  Net
rental income is expected to be £82,500 p.a.

This investment is part of a continuing programme to enhance the quality of our
property portfolio and is in line with the policy statement announced on 14 June
2002.


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