Seven Year Loan Agreement with HSBC

Panther Securities PLC
3 December 1999
        
                              
Panther Securities PLC announces that it has completed a new
secured  seven  year loan agreement with HSBC  Bank  plc  of
£25,000,000  on a portfolio of 50 properties.  The  facility
is  at  a  lower  margin  over LIBOR that  on  all  previous
borrowing facilities.

The  new loan has been utilised to repay all existing loans,
with  the  exception of a loan within the recently  acquired
Northstar  Group of Companies.  After repayment  and  costs,
the  Panther  Group  has approximately  £7,500,000  of  cash
balances.

Enquiries:

Panther Securities PLC                  0207 278 8011
Andrew Perloff