Disposal

Walker Greenbank PLC
23 February 2004


                              WALKER GREENBANK PLC

       Sale and Leaseback Transaction and Disposal of Retail Concessions

 Walker Greenbank PLC (the 'Company'), the wallcoverings and furnishing fabrics
group, announces that it has entered into a sale and leaseback agreement of its
       Milton Keynes premises (the 'Property'), its main distribution and
 administrative centre, with Legal and General Assurance (Pensions Management)
                                    Limited.

The Property has been sold for £4,670,000 payable in cash on completion and the
Company has entered into a twenty-year lease at a market rent. The Company held
the Property in its books at a cost of £3,100,000.

The proceeds will be used to reduce debt and provide additional working capital
for the enlarged Walker Greenbank Group following the purchase of the business
of Arthur Sanderson in August 2003.

The Company also announces that it has exchanged contracts for the sale of
certain retail concessions in leading department stores. These retail
activities, which are viewed as non-core, were acquired as part of the
acquisition of the Sanderson business and had not been profitable. Sanderson
will continue to enjoy a retail presence in these stores, benefiting from a
royalty arrangement. The consideration for the sale is anticipated to be between
£500,000 and £750,000, dependent upon stock levels at the time of completion. It
is anticipated that completion will take place at the beginning of April 2004.

The Board of the Company is currently actively engaged in discussions with its
major shareholder, The Union Discount Company of London Limited, regarding board
representation and expects to conclude that matter shortly.

The Preliminary Results for the year ending 31st January 2004 are anticipated to
be announced during the week commencing 12th April 2004.

For further information:-
I Kirkham                               Chairman, Walker Greenbank PLC          01908 658089
J D Sach                                Chief Executive Officer                 01908 658009
R Evans                                 Brewin Dolphin                          0161 214 5553
I Seaton                                Bankside Consultants                    0207 444 4157





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