THG Thg Plc

RNS Number:3312O
Terrace Hill Group PLC
20 December 2006



             Terrace Hill Group plc ('Terrace Hill' or 'the Group')



                  Purchase of London property in joint venture



Terrace Hill Group plc, the AIM listed property group, is pleased to announce
that, on 19 December 2006, the Group exchanged contracts to purchase Howick
Place in Victoria, London, in a joint venture in which Terrace Hill has a 20 per
cent. equity interest.



The property has been acquired from House of Fraser Stores Limited who currently
use it as their head office building pending the re-development of the site by
the joint venture as a mixed use office and residential scheme. The completed
scheme will have an estimated value of approximately #180 million.



Philip Leech, Terrace Hill's Group Managing Director, said: "This is an exciting
acquisition for Terrace Hill in the fast-growing Victoria office and residential
market which should generate significant returns for the joint venture."



                                  * * ENDS * *



For further information please visit www.terracehill.co.uk or contact:

Philip Leech, Group Managing Director             Tel: 01642 243444

Alasdair Robinson, Noble & Company Limited Tel: 0131 225 9677

Isabel Crossley, St Brides Media & Finance Ltd           Tel: 020 7242 4477



Notes to editors:



Terrace Hill Group PLC - AIM-listed property group with two key divisions,
Commercial Development and Residential Investment and Development, and a total
development programme of #1,138 million.  The Group continuously explores ways
of leveraging its equity to enhance returns for its shareholders and recently
established Terrace Hill Development Partnership, a commercial property
development fund. As at 19 December 2006, the market capitalisation of Terrace
Hill was approximately #180 million.





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