Further re Offer

Terrace Hill Group PLC
24 November 2003


Terrace Hill Group PLC ('the Group')
Offer Declared Unconditional as to Acceptances

Further to the announcement released by the Group on 24 November 2003 in which
the Group stated that it had reached agreement with Simon and Douglas Blausten,
Directors of Oakburn Properties PLC ('Oakburn'), to enter into a Joint Venture
with them in ownership of Hodgson & Faraday Property Management Services Limited
('Hodgson & Faraday'), and that Hodgson & Faraday had announced a cash offer 
('the Offer')  to acquire the issued share capital of Oakburn not already owned
or controlled by Hodgson & Faraday and others with which it forms a concert
party at a price of 760p per share cash, the Group is pleased to announce that
the Offer has been declared unconditional as to acceptances.

The Offer will remain open for acceptance under the terms of the Offer.



Contacts:

Nigel Turnbull, Terrace Hill Group plc - 020 7631 1666
Ross Macdonald, Terrace Hill Group plc - 0141 332 2014
Alasdair Robinson, Noble & Company Limited - 0131 225 9677
Hugo de Salis, St Brides Media & Finance - 0207 242 4477


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