Acquisition

Minerva PLC
01 February 2006

For immediate release                                            1 February 2006


                                   Minerva plc


Conditional acquisition of 75-89 Lancaster Gate, London W2


Minerva plc, the FTSE 250 property company, announces today that in a joint
venture with Northacre plc, they have exchanged conditional contracts for the
acquisition of the share capital of Cambulo Lancaster Gate Development Limited
for a cash consideration of up to £67.6 million and which is conditionally
contracted to acquire 75-89 Lancaster Gate, London.

Commenting on today's announcement, Salmaan Hasan, Chief Executive of Minerva
plc said:

"75-89 Lancaster Gate will be acquired with vacant possession, presenting
Minerva with an attractive residential development opportunity."



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