EGM Approves Buyout of PCG Residential Lettings

Property & Capital Group PLC
8 February 2000


PROPERTY & CAPITAL GROUP PLC ('Property & Capital')

ACQUISITION OF PCG RESIDENTIAL LETTINGS HOLDINGS PLC ('PCG')

At the Extraordinary General Meeting ('EGM') held at 10 am today, the
resolutions to approve the acquisition of the entire issued share capital of
PCG, which were the subject of a circular to shareholders dated 21 January
2000, were passed by the shareholders of Property & Capital.  Accordingly, the
directors of Property & Capital have allotted 28,656,876 Ordinary Shares ('new
Ordinary Shares') in Property & Capital as consideration for this acquisition.
Application has been made to admit the new Ordinary Shares to trading on the
Alternative Investment Market ('AiM') and it is expected that these shares
will be admitted to trading on AiM on 9 February 2000.  The existing Ordinary
Shares of Property & Capital have not been suspended pending the outcome of
the EGM.