Northacre PLC
25 February 2008







NORTHACRE PLC TRADING UPDATE



The Lancasters And The Kensington


With planning consent secured on The Lancasters and The Kensington progress
continues for both schemes on schedule with our joint venture partners Minerva
Plc who issued an update on these projects in their interim results announced
this morning. Construction works on The Lancasters is now well in hand. A
significant flow of enquiries has been generated as a result of the feature
hoarding. The first phase of passive marketing has already generated secured
sales revenue in excess of £100m which represents almost one third of the total
number of apartments.



The Warwick And The Vicarage


The Warwick and The Vicarage Gate schemes continue through the planning process
- a decision on both sites will be determined later this year. In the case of
Warwick Road, it is useful that the Royal Borough of Kensington & Chelsea has
now adopted a planning brief and a master plan. The next Vicarage planning
inquiry will now be held in May 2008.



Trading


In addition to the progress of our developments, fee income for our operating
subsidiaries continues to grow in accordance with our expectations. In
particular, some new assignments for interior design services have recently been
secured. Although we recognise some downturn in market sentiment, we are,
nevertheless, confident that further growth in our business activities will be
maintained.






All Enquires:


Northacre Plc Tel: +44 20 7349 8000


John Hunter

Chief Executive


Manish Santilale

Finance Director


KBC Peel Hunt Ltd Tel: +44 20 7418 8900


Capel Irwin

Nicholas Marren




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