Re: Share Buy Back

Terrace Hill Group PLC
31 January 2003


Terrace Hill Group PLC ('the Company')

Share Buy Back

The Company is today issuing to shareholders the documentation,
including Form of Tender, in respect of the proposed buyback of up
to 750,000 ordinary shares of 2p nominal value ('shares') at a price
of 16.25p each each as referred to in the announcement dated 22 January 2003.

The record date for the entitlement to tender shares to the company and the
closing date for tenders are both 12.00 noon on 17 February 2003.

Tenderers of shares pursuant to the proposal will not be entitled to
the interim dividend for the half-year of 0.125p per share recently announced
for which the record date is 7 March 2003.

The buyback is conditional upon approval by members at an
Extraordinary General Meeting to be held at 12 noon on 4 March 2003. The notice
convening the meeting is also being issued today.


End


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