Property Recyling Group plc

Completion of Acquisition

12 July 2007

                    Property Recycling Group plc
                       ("Property Recycling")

              Completion of Acquisition at Colsterworth

Property Recycling (AIM: PROP), which acquires and prepares
brownfield sites for development, announces that it has completed the
acquisition of the 8.09 hectare site (20 acres) at Colsterworth in
Lincolnshire. The exchange of conditional contracts was announced
earlier this year.

The site is located adjacent to the A1, midway between Stamford and
Grantham, and has planning consent for general industrial, storage
and distribution use. It has 18 buildings covering a total area of
20,300 sq m (218,500 sq ft). Approximately 13,500 sq m (145,300 sq
ft) is tenanted on short term leases, generating approximately
£410,000 per annum, with 6,800 sq m (73,200 sq ft) available to let,
which would produce another £180,000 per annum.  There is also a
potential for a further 12,000 sq m (129,200 sq ft) of new
development on the property.

Commenting on the  acquisition, Paul Rackham,  chairman, said,  "This
property is  well located  and already  has planning  permission  for
general industrial,  storage  and  distribution  use.  The  site  has
significant potential through increasing  the number of buildings  or
complete redevelopment. "


Paul Rackham, Chairman,                 01953 717176
Property Recycling Group plc

Richard Sunderland / Rachel Drysdale,  020 7920 3150
Tavistock Communications

John Webb,                             020 7490 3788
Marshall Securities, Nominated adviser

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Notes to Editors

Property Recycling,  which floated  on AIM  in 2005,  specialises  in
acquiring and improving  brownfield sites for  sale to developers  or
future end  users.  The  Group  selects  sites  where  value  can  be
increased significantly through remedial works and improved planning.

The Norfolk  based company  operates against  a backdrop  of an  ever
increasing  national   shortage   of   residential   and   commercial
development land, a pressure felt particularly in the South East  and
East of  England.  The  directors believe  that  the  development  of
brownfield sites - predominately redundant industrial sites - is more
likely to gain local acceptance than that of greenfield sites.

This approach also  provides the possibility  of significant  amenity

Following  this  acquisition,  the  Group's  portfolio  comprises   6
freehold sites totalling 207.9 hectares (513.7 acres).