Sale of Property

Terrace Hill Group PLC
20 December 2002

TERRACE HILL GROUP PLC (the 'Group')



The Group announces the sale of 'Advance', an office building of 12,750 sq ft
developed by the Group at Teesdale Business Park, near Middlesborough, and let
to three government departments, at  a price of £2.4 million which has been paid
in cash and which reflects a net initial yield of 7.48% to the purchasers.



The sale is profitable to the Group. The proceeds will be applied in part to
reduce gearing and in part as working capital.



End




                      This information is provided by RNS
            The company news service from the London Stock Exchange