RNS Number:2470H
Halladale Group PLC
10 February 2003

Halladale acquires retail properties in Stafford and Wolverhampton

Halladale Group plc ("Halladale"), the UK property trading and development
company, announces the acquisition of two predominantly retail properties for a
total price of #6 million.

The initial yield at purchase of 8.5 per cent will rise to approximately 9 per
cent with the conclusion of a number of outstanding rent reviews at the two
properties, 2-18 Princess Street, Stafford and Boscomoor Shopping Centre,
Penkridge, Wolverhampton.

Princess Street is a retail parade comprising eight retail units extending to
some 37,000 sq ft and includes office accommodation on the first and second
floor. It is located close to the prime retail area of Stafford and opposite the
Sheridan Shopping Centre, itself subject to a major reconfiguration and
refurbishment and home to major retailers such as Argos, New Look and Iceland.
Princess Street offers a number of good asset management opportunities to
increase the quality of the rental stream and the office accommodation is
potentially suitable for conversion to leisure or residential use.

Boscomoor Shopping Centre offers good income security with Sommerfield and
Alldays secured as tenants until 2016. It also offers asset management
opportunities including development land adjacent to the main parade which has
planning consent for up to 4,000 sq ft of new retail space.

Ken Lindsay, Property Director of Halladale, commented:

"These acquisitions are in line with our strategy of identifying properties that
deliver attractive yields and that offer interesting asset management
opportunities including redevelopment potential."

                                     -ends-


For further information please contact:

Ken Lindsay, Property Director, Halladale Group plc, 0141 204 4633

Charlotte Lambkin/Charles Reynolds, Bell Pottinger Financial, 020 7861 3232

Stuart Lane, Collins Stewart Ltd, 020 7523 8310



Details of Disposals

2-18 Princes Street and 1-3 Mount Street

Constructed in 1975, this property comprises ground retail with first floor
ancillary and first and second floor office accommodation. It is anchored by a
number of multinational multiple retailers, including Motorworld, Walmsley's,
Wimpey and Farm Food. The scheme comprises seven retail units accessed off
Princes Street while the offices are accessed off Mount Street.

Boscomoor Shopping Centre, Penkridge, Wolverhampton

Boscomoor Shopping Centre, developed in 1991, comprises 23,000 sq ft of retail
accommodation arranged in a single storey and a 110-space car park.

Halladale

  * Halladale is a property trading and development company that creates value
    for shareholders through active and entrepreneurial management and risk
    controlled development of commercial property assets.

  * The value of its portfolio at 31 October 2002, including the aggregate
    value of joint ventures, was #133 million, a year on year increase of 52 per
    cent.

  * At the half-year ended 31 October 2002, profit before tax increased by 23
    per cent to #952,000 year on year and interim dividend increased by 12 per
    cent to 0.56p per ordinary share.

  * Total purchase and sales transactions during the period increased by 42
    per cent to #64 million.

  * Halladale's shares were admitted to AIM in April 2001.

  * Halladale was founded in 1991 by its Chief Executive, David Lockhart, and
    has offices in Glasgow and London.

  * For more information on Halladale please visit http://www.halladale.co.uk.



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