RNS No 4521a
CITY SITE ESTATES PLC
10th August 1998


                    Bank of Scotland New Term Loan #20M

Agreement has been reached and drawdown taken place in respect of a new term
loan with the Bank of Scotland over a 10 year period at a fixed rate of 9.75%.
The proceeds of this funding have been utilised to repay the balance of the
First Mortgage Loan Stock 2006 with Bank of Scotland.


END

MSCSFSFESUAUFLA
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