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Probus Estates PLC (PBE)

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Friday 18 October, 2002

Probus Estates PLC

Issue of Equity

Probus Estates PLC
18 October 2002

PROBUS ESTATES PLC

Probus Estates PLC has issued and allotted 39,030,041 new ordinary shares of 1p
each to Uni-Invest NV in accordance with the loan guarantee agreement dated 17
December 2001 in connection with the acquisition of land at Can Vinyes, at an
issue price of 1.77p each.

In addition Probus Estates PLC has issued and allotted 11,455,480 new ordinary
shares of 1p each in lieu of interest payable to Temoc Investment BV accordance
with the Company's Euro-Denominated Convertible Loan Notes, at an issue price of
1.99p

Application will be made for the 50,485,521 new ordinary shares to be admitted
to AIM. It is expected that dealings will commence on (24) October 2002.


                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                                                                                                                                             

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