THG Thg Plc

RNS Number:1673D
Terrace Hill Group PLC
21 September 2004



TERRACE HILL GROUP PLC ("Terrace Hill" or "the Group")


Purchase of London Property for #16.1 million

Terrace Hill Group PLC, the AIM listed property investment and development
specialists, has exchanged contracts to purchase Davis House adjacent to
Victoria Station, London, at a price of #16.1 million. The Group aims to develop
the site as a 130,000 sq ft mixed use scheme over the next two years resulting
in the property having an estimated fully developed value in excess of #50
million.

Terrace Hill Group Chairman Robert Adair said: "This is a great deal for us as
we have the development and project expertise to fully maximise the value of
Davis House. It fits in with our business model of identifying projects, which
with investment and careful management can generate significant returns for our
shareholders."



For further information please contact:

Terrace Hill Group PLC

Ross Macdonald, Joint Managing Director      Tel: 0141 332 2014 or 07710 459 649
Nigel Turnbull, Joint Managing Director      Tel: 020 7631 1666

Noble & Company Limited
Matthew Hall/Nick Athanas                    Tel: 0131 225 9677

St Brides Media & Finance Ltd
Hugo de Salis                                Tel: 020 7242 4477




Notes to Editors:

Terrace Hill Group PLC is an AiM traded Property Group. It has two divisions (1)
Commercial Development where the current development programme, including those
in joint venture, is around #500 million, with approaching #200 million underway
and #300 million projected and (2) Residential Investment where it holds 535
units in Scotland and the North of England. Terrace Hill recently reported an
increase of #18.986 million (40.80%) in Net Asset Value to #65.5 million in the
half year to 30 April 2004, contributed by a placing with institutional
shareholders of #8.128 million, and at the same time announced a doubling of
dividend. A share buyback programme has just been completed where 1,410,022
ordinary shares of 2p nominal value at a price of 28p per share were
re-purchased. Following completion of this buy back, the Group has 185,823,377
ordinary shares in issue.


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