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Gander Properties (GPP)

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Wednesday 11 August, 1999

Gander Properties

Directorate

GANDER PROPERTIES PLC
11 August 1999

It was announced today that a recommended proposal under which Orb Estates PLC
('Orb') would acquire Gander Properties PLC ('Gander') had been agreed by the
directors of the two companies.

Grant Thornton is acting as sponsor to Orb and advising that company in
connection with the transaction.  Mr B M Moritz, who is a non executive
director of Gander, is also a partner in Grant Thornton.  In order to resolve
the potential conflict of interest, Mr Moritz has resigned as a director of
Gander with immediate effect.

                                                                                                                                                                                                   

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