RNS No 9315r
CARDIFF PROPERTY PLC
11th March 1999

              CARDIFF PROPERTY MAKES FURTHER PROGRESS.

  The group specialises in investing and developing commercial and residential
property close to Heathrow Airport and to the west of London, along the M25, M4
and M3 motorway network 

At the annual general meeting held today, Chairman, Richard Wollenberg,
commented:

"Since my statement in the annual report the group has continued to make good
progress.  At the year end net assets per share amounted to 391p.

In December last year we completed the sale of our freehold office building at
Station Road, Egham, for a total consideration of #2.4m.  Negotiations for the
sale of other properties are also taking place.

Major refurbishment of our 20,000 sq. ft. industrial and office scheme at
Vansittart Estate, Windsor, known as 'The Windsor Business Centre' is
practically complete.  Discussions are taking place with prospective tenants for
two of the six units.

Our 16,000 sq. ft. headquarter office development at Brookwood, Woking, is
progressing well, on budget and in line with the expected November 1999
completion date.

At Hambledon, Surrey, the construction of a new 7,000 sq.ft. luxury residence
set in six acres is well advanced.  Our retained agents are confident of
achieving an early sale once building works are completed.

At Thames Ditton, Surrey, planning permission has been granted for a detached
four bedroomed house,  Construction works have commenced with completion
expected in August 1999.

Acquisitions continue to be appraised and offers have been made for freehold
properties at Bracknell and Maidenhead (offices) and Virginia Water and Woking
(residential).

The Market Place

In the last quarter the commercial letting market to the west of Heathrow and
M25 area, has experienced a marginal slow down.  Occupier demand remains strong
and a shortage of high grade office property available for immediate occupancy
is still evident.  Rental levels have remained firm.  The demand for new
executive homes also remains strong.

With the recent reductions in interest rates and the rising level of business
confidence the outlook for the group remains positive.

All resolutions at the annual general meeting were approved and the 2.4 pence
per share final dividend for the year ended 30 September 1998 will be paid on 6
April 1999".

Further information
Richard Wollenberg            Chairman                01784 437444
Brian Coleman-Smith           Binns & Company         0171 786 9600
Will Martin                   Capel Cure Sharp        0171 638 7275

END

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