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Probus Estates PLC (PBE)

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Tuesday 24 July, 2001

Probus Estates PLC

Purchase of Property

Probus Estates PLC
24 July 2001



                              PROBUS ESTATES PLC

                     ('Probus Estates' or 'the Company')

              Purchase of Commercial Property in The Netherlands

Probus Estates announces today that its wholly owned subsidiary, Probus
Holding BV, has acquired an office property in the town of Dordrecht in The
Netherlands for a purchase price of NLG 10.5 million (approximately £2.9
million). The seller is Amstelro Ontwikkelingsmaatschappij Gamma BV. The
acquisition will be financed by a mortgage loan of NLG 7.5 million
(approximately £2.1 million) and the issue of 15,136,379 ordinary shares of 1p
each in Probus Estates to the seller at a price of 5.5p per share. Application
will be made for the new ordinary shares to be admitted to listing on the
Alternative Investment Market and it is expected that dealings will commence
on 30th July 2001.


The property is fully let and produces rental income of NLG 957,000
(approximately £270,000) per annum.


The Company now has 470,590,524 ordinary shares of 1p each in issue.




                                                                24th July 2001



                                                                              

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