RNS Number:6260R
Halladale Group PLC
04 November 2003

        Halladale disposes of Barrhead Shopping Centre for #5.5 million

Halladale Group plc ("Halladale"), the UK property trading and development
company, announces it has completed the sale of its long leasehold interest in
the Main Street Shopping Centre, Barrhead. The price of #5.5 million, paid by a
private buyer, reflects an initial yield of 7.75 per cent.

Main Street was acquired in May 2002 via Halladale Ventures Ltd, Halladale's
joint venture with Bank of Scotland Corporate Banking. It was acquired as part
of a #11.5 million portfolio of four properties across Scotland.

Main Street is a 51,700 sq ft town centre shopping facility including some 15
retail units with offices above. Since purchase, Halladale has significantly
enhanced value by reconfiguring units, regearing leases, raising the average
rent from #22 to #27 sq ft and improving the tenant mix. Total rental value is
now #455,000 per annum.

Montagu Evans advised Halladale and CGP acted for the purchaser.

David Lockhart, Chief Executive of Halladale, commented:

"This portfolio interested Halladale for its significant town centre asset
management and redevelopment opportunities. This is the second disposal
following the #2.35 million sale of the Bargarren Shopping Centre in Erskine in
February this year. In both cases we have delivered our asset management
strategy ahead of schedule and have taken advantage of the continuing strong
retail market to realise value."

                                    - ends -



For further information please contact:

David Lockhart, Chief Executive, Halladale Group plc, 0141 204 4633
David Rydell/Charlotte Kirkham, Bell Pottinger Financial, 020 7861 3232
Stuart Lane, Collins Stewart Ltd, 020 7523 8310



Main Street, Barrhead

This property comprises some 15 retail units forming a single open centre
totalling 35,000 sq ft, with extensive rear car parking. Tenants include Clark
Retail, Greggs, William Hill, Iceland and First Quench, with a further 16,700
sq.ft. of offices at first floor level, occupied by Barrhead Travel Services.


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 throughout the UK.

   *The value of its portfolio at 30 April 2003, including the aggregate
    value of joint ventures, was #145 million, a year on year increase of 25 per
    cent.

   *In the year ended 30 April 2003, profit before tax increased by 47 per
    cent to #1,691,000 year on year and the total dividend increased by 28 per
    cent to 1.6p per ordinary share.

   *In the same period, the total value of acquisitions and disposals
    increased by 46 per cent to #120 million.

   *Halladale was founded in 1991 by its Chief Executive, David Lockhart, and
    has offices in Glasgow and London.

   *Halladale's shares were admitted to the AIM in April 2001.

   *For more information on Halladale please visit http://
    www.halladale.co.uk.



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

END
DISBRBDBGSGGGXX