Property Update & Disposal

Worthington Group PLC
06 March 2006


Worthington Group PLC (the 'Company')



Property update and Disposal



6th March 2006



Worthington are pleased to announce the sale of their Office block and adjoining
Factory at Fence Avenue, Macclesfield ('Fence Avenue'), for the sum of
£2,750,000 to The Printworks Chester LLP. ('The Printworks'). Contracts have
today been exchanged subject to shareholder approval for completion on 6 June
2006.



The Printworks will pay £412,000 into an escrow account, which will only be
released to Worthington after an Extraordinary General Meeting which will be
specially called to obtain shareholders approval for this transaction.  This is
a Class 1 disposal which requires a full circular, which will be sent out to
shareholders as soon as practicable together with details of the date and venue
of the EGM.



The Printworks will be undertaking certain alterations to the building during
the time that shareholders approval is being sought, and so Worthington Group
Plc have indemnified them to the sum of £412,000, payable if shareholders do not
approve this transaction at the EGM.



Fence Avenue has been on the market since Autumn 2004 when the trading business
of the subsidiary company occupying it was moved to smaller premises as part of
a downsizing exercise. Since then the property has undergone extensive marketing
by our agents during which time a number of lower offers were received and
rejected on our agent's advice. Our agents have now recommended to the Board
that the offer received from the Printworks should be accepted. The sale will
generate a loss on disposal of some £300,000 before selling costs.



The funds received will go to redeem the mortgage on the property and eliminate
all outstanding borrowings of the Group leaving it with a net cash position.
The Board will be recommending to shareholders that they give their approval at
the EGM.



In respect of the remaining properties the offer of £2.5m for the Keighley
premises has fallen through with the purchasers withdrawing their offer due, we
believe, to funding difficulties. The planning application for the Eccleshill
site continues to be considered by planners. If received we intend to finalise
the agreed offer of £1.2m  subject to planning approval.







J C Dwek CBE
Chairman



6 March 2006



Enquiries:
Worthington Group plc
Joe Dwek CBE, Chairman                        Tel: [phone]




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