RNS No 7023h
CLEVELAND TRUST PLC
16th February 1999
                                       
                            THE CLEVELAND TRUST PLC
                                       
                          New Acquisition and Letting
                                       
The  Cleveland Trust Plc announces the letting of the first of three units  in
its  new  development,  Focal Point, in Trafford Park,  Manchester  to  Harman
International Industries Limited, a major U.S. electronics company.  The  unit
covers  24,180  square  feet representing over 40% of the  total  development.
Rent  has been agreed at #117,250 per annum, and the Company understands  that
there  is a high level of interest being expressed in the remaining two  units
to the joint agents, King Sturge & Co and St Quintin.

On Friday the Company also exchanged contracts for the acquisition of Emmanuel
Trading  Estate  in  Springwell Road, Leeds, for #1.3 million.   The  property
covers 34,500 square feet and is located close to the city centre and the  end
of  the M1 motorway.  The only unoccupied unit on the Estate is already  under
offer  and  once the letting is completed, the Estate will yield approximately
10%.

David Heynes, Chairman, said,

"The  letting  of  the  first unit at Trafford Park underlines  its  value  at
significantly  above  its  development cost.   Emmanuel  Trading  Estate  also
provides  excellent scope for our experienced management team  to  unlock  its
potential.   These  two deals represent a step forward  in  our  objective  of
delivering sustained growth in net asset value for our shareholders."

                                     
Date: 16 February 1999
For further information contact:

The Cleveland Trust Plc       David Heynes             0171-823-2393
                              Dennis Poole             0171-839-7111

City Profile Group            Simon Courtenay          0171-726-8588

END

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