RNS Number:8453R
Halladale Group PLC
10 November 2003

                  
                    Halladale announces #8.11m retail disposal

Halladale Group plc ("Halladale"), the UK property trading and development
company, announces that it has disposed of two retail units in Woodley, Reading
to a private investor for #8.11m.

The retail units, which are within the principal shopping centre of Woodley,
total 34,610 sq ft and are let to Waitrose and New Look for a total rent of
#469,400 per annum. The price reflects a net initial yield 5.97 per cent.

Halladale originally acquired the long leasehold to the principal shopping
centre in Woodley in November 2001 in a joint venture with Citigroup Alternative
Investments ("Citigroup"), via a special purpose joint venture company, in which
Halladale, Citigroup and private clients of Citigroup co-invested.

In April 2003, Halladale announced that it acquired the freehold of the
principal shopping centre in Woodley from Wokingham District Council and the
restructuring of the lease with Waitrose, agreeing an extension to December
2027. The lease held by New Look expires in June 2009.

Jackson Criss acted for Halladale and Barrs Freer-Smith acted on behalf of the
private investor.

David Lockhart, Chief Executive of Halladale commented:

"This is a classic example of Halladale's active asset management strategy in
practise. Securing the freehold, completing rent reviews and renegotiating the
Waitrose lease has enabled us to realise significant capital value by taking
advantage of the continuing strong retail market."

                               
For further information please contact:

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


Full property Address:-
108 - 114 Crockhamwell Road, Woodley.


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.


Citigroup Alternative Investments

Citigroup Alternative Investments is part of Citigroup Inc. (NYSE: C), the
preeminent global financial services company with some 200 million customer
accounts in more than 100 countries. It provides consumers, corporations,
governments and institutions with a broad range of financial products and
services, including: consumer banking and credit, corporate and investment
banking, insurance, securities brokerage and asset management. Additional
information may be found at: www.citigroup.com.








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