Five Oaks Inv. Ld

Acquisition of Debentures

Five Oaks Investments Limited
17 June 2003


For immediate release

17 June 2003

Five Oaks Investments Limited


                       Acquisition of debenture stock


Five Oaks Investments Limited announces that it has redeemed £1.825 million of
83/8 per cent. First Mortgage Debenture Stock 2019, in accordance with the terms
of the trust deed. The amount of such stock which remains outstanding is £13.175
million.



Enquiries:

Five Oaks Investments Ltd

Graham Emmett            020 7467 5556




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