Disposal of Property

Terrace Hill Group PLC
31 October 2002


TERRACE HILL GROUP PLC (The 'Company')

Sale of Investment Property


The Company has, subject to head landlord's consent, sold to Northway House
Limited an investment property (previously refurbished by the Company) being a
9,032 sq ft office building at Fulwood Place, London, WC1 let out in August, at
a price of £4.160 million payable in cash with completion expected in late
November.

This is a substantial transaction in terms of the AIM Rules and the following
information is given.

The carrying value of the property is £4.011 million.  The cost of acquisition
and redevelopment was £2.815 million.  Current revenue profitability has been
nil as the tenant is in an initial rent free period.  The proceeds of the sale
will be used to reduce gearing.  The effect on the Company is to improve
profitability.


Contacts:

Ross Macdonald, Joint Managing Director, Terrace Hill Group Plc    0141 332 2014

Alasdair Robinson, Noble & Company Limited                         0131 225 9677


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