HCS Hacas Grp.

RNS No 0224m
HACAS GROUP PLC
24th November 1998

                   HACAS Group plc ("HACAS")
(Consultancy services to the public and social housing sector)
                               
   GLASGOW CITY COUNCIL APPOINT HACAS AS LEAD ADVISER FOR A
     FEASABILITY STUDY INTO TRANSFER OF ITS HOUSING STOCK
                               
HACAS,  one  of the UK's leading providers of consultancy  and
advisory  services to the public and private  housing  sector,
has been appointed by Glasgow City Council ("the Council")  as
lead  adviser to work with its in-house team on a  feasibility
study  into the transfer of its housing stock of some  100,000
homes.    The   purpose  of  transfer  would  be  to   achieve
modernisation   of  the  homes  as  well  as  greater   tenant
involvement in service delivery and local regeneration.

The  feasibility  study  will  investigate  the  viability  of
different   options  for  transfer  to  meet  the  needs   and
aspirations of residents, the Council, the Scottish Office and
Scottish  Homes  as  future regulator.  The feasibility  study
report  is  due to be presented to the Council at the  end  of
March 1999.

Julian Ashby, the Chairman of HACAS, said:

"We  are  delighted  that Glasgow City Council  has  appointed
HACAS  as  lead  advisers on this major  project  and  we  are
looking forward to continuing our work with Gerry Gormal,  the
Council's Housing Policy Manager, and his team."

For further information:

Julian Ashby (Chairman)                        0171 609 9491
Brian Coleman-Smith / Lisa Kramer              0171 786 9600
Binns & Co Public Relations


Background note:

Investigating the possible transfer of Glasgow City  Council's
housing stock to not-for-profit social landlords is the  first
step  of  the most important social housing project in Europe.
It  will establish the appetite for private investment in  the
modernisation of the Council's housing at a cost of over  #1.5
billion.   The  Scottish  Office  has  provided  New   Housing
Partnerships funding of #1.065 million to support the costs of
the study.

The  Council's project team will be led by Gerry  Gormal,  the
Council's  Housing  Policy Manager, with a  seconded  team  of
eight  people  from  within the Council.   The  lead  external
adviser is Rachel Terry, Director of HACAS Exchequer Services,
a  subsidiary of HACAS Group plc, who worked with the  Council
on  an initial options appraisal earlier this year.   She  has
been  involved with local authorities and housing associations
on  innovative financing arrangements for the part  15  years.
This  has  included the funding of whole and  partial  housing
stock  transfers to new and existing social housing  landlords
since 1988.

The core team of external advisers is:

HACAS Exchequer Services:   Lead advisers, business planning
                            and funding
HACAS Consulting:           Tenant issues
FPD Savills:                Stock condition
Trowers & Hamlins           Legal
Harper Macleod              Legal

END


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