RNS Number:6915J
Halladale Group PLC
07 April 2003

          Halladale acquires freehold of two Woodley shopping parades

Halladale Group plc ("Halladale") announces that, further to the acquisition of
the long leasehold interest in two retail parades in the principal shopping
centre of Woodley, Reading in November 2001, it has acquired the freehold of the
properties from Wokingham District Council for #4.7 million.

Halladale also announces that it has restructured the lease with key tenant
Waitrose, which was due to expire in 2008, having agreed an extension to
December 2027.

The property was acquired for approximately #7.6 million in a joint venture with
Citigroup Alternative Investments ("Citigroup"), via a special purpose joint
venture company, in which Halladale, Citigroup and private clients of Citigroup
co-invested.

Ken Lindsay, Property Director of Halladale commented:

"Securing the freehold and realising marriage value is a classic example of
Halladale's active asset management strategy in practice. We have also completed
rent reviews and the renewal of leases and, after less than eighteen months,
significantly enhanced the capital value."

Jackson Criss acted for Halladale and Lambert Smith Hampton represented
Wokingham District Council.

                                     -ends-


For further information please contact:
Allan Lockhart, Halladale Group plc                                020 7659 9771
David Rydell/Charles Reynolds, Bell Pottinger Financial            020 7861 3232
Stuart Lane, Collins Stewart Ltd                                   020 7523 8310

Property Details


  * The property is located on Crockhamwell Road, which is pedestrianised and
    the main retailing thoroughfare in Woodley and comprises a major part of the
    retail and office accommodation in the town.

  * The property comprises two prominent retail parades located either side of
    Crockhamwell Road.

  * Retail tenants include significant UK multiple retailers such as Waitrose,
    Iceland, New Look, Lunn Poly, Thomas Cook, Boots and Lloyds TSB.

  * In total, the parades comprise 14 unit shops, two food stores, 17,000 sq
    ft of office accommodation and seven, three bedroom residential flats.

  * Woodley is an affluent suburb of Reading, with a population of 146,000,
    and situated less than 35 miles to the west of Central London.

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.

About Citigroup Alternative Investments

Citigroup Alternative Investments is part of Citigroup Inc. (NYSE: C), the
preeminent global financial services company with some 200 million customer
accounts in more than 100 countries. It provides consumers, corporations,
governments and institutions with a broad range of financial products and
services, including: consumer banking and credit, corporate and investment
banking, insurance, securities brokerage and asset management. Major brand names
under Citigroup's trademark red umbrella include Citibank, CitiFinancial,
Primerica, Salomon Smith Barney, Banamex and Travelers Life and Annuity.
Additional information may be found at: www.citigroup.com.


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