New Supermarket Development

Panther Securities PLC
6 October 2000

                                                                              
In the Chairman's statement issued with the interim results for the six months
ended 30th June 2000, the Chairman stated that it appeared that the Group's   
scheme for a 100,000 sq. ft supermarket and ancillary shopping development at 
Symes Avenue, Bristol would be approved by the Department of the Environment  
for the grant of full planning permission.                                    
                                                                              
The Board announces that it has been informed by the Company's Bristol Agents 
that its planning application in respect of the redevelopment of shops in     
Bristol has been 'called in' by the Secretary of State for the Environment and
accordingly will be subject to a full Public Enquiry which could take between 
six and twelve months to be heard.