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Pillar Property (PLL)

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Friday 20 May, 2005

Pillar Property

Stmnt re Share Price Movement

Pillar Property PLC
20 May 2005


20 May 2005

                         Pillar Property PLC ('Pillar')

Following the recent movement in Pillar's share price, the Board of Pillar
confirms that it is in advanced discussions, which may or may not lead to an
offer for Pillar. The indicated price is 855 pence in cash per Pillar share
including any final dividend declared by the Board for the year ended 31 March
2005.

In considering these proposals the Board is taking particular care of the
interests of the various trusts advised by Pillar.

A further announcement will be made when appropriate.

For further information:

Gavin Anderson & Company               Tel: 0207 554 1400
Charlotte Stone/Richard Constant




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