RNS Number:1968W
Hercules Property Services PLC
05 March 2004


                         Hercules Property Services plc

                                Issue of equity

Hercules Property Services plc ("Hercules") announces that it has today entered
into an arrangement, conditional on admission, to place 900,000 new ordinary
shares ("New Ordinary Shares") at 275 pence per share (the "Placing"), to raise
approximately #2.48 million before expenses.  The New Ordinary Shares represent
approximately 4.92 per cent of Hercules's existing issued share capital.  The
broker to the Placing is Investec.  The net proceeds will be used to reduce net
debt.

Applications have been made for the New Ordinary Shares to be admitted to the
Official List of the UK Listing Authority and to the London Stock Exchange for
admission to trading on the London Stock Exchange's market for listed
securities.  It is expected that admission will take place on Wednesday 10 March
2004.  The New Ordinary Shares will rank pari passu with the existing issued
ordinary shares, including the right to receive the interim dividend of 1.6
pence per share payable on 5 July 2004.

Commenting on the placing, Rob Plumb, Managing Director of Hercules said:

"We are delighted with this Placing as it allows us to significantly reduce our
debt and at the same time, following increased interest in the Company, widen
our shareholder base.  Our outlook remains positive for the second half."

For further information contact:


Hercules Property Services plc            Tel:                  020 8909 5151
Rob Plumb
Nigel Davis

Investec                                  Tel:                  020 7579 5000
Rupert Krefting

mj2 ltd                              Tel:                  020 7491 7776
Richard Sunderland




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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