RNS Number:5461H
Halladale Group PLC
17 February 2003



                 Halladale disposes of Erskine shopping centre



Halladale Group plc ("Halladale"), the UK property trading and development
company, today announces the disposal of The Bargarren Shopping Centre, Erskine,
for #2.35 million.

The Bargarren Shopping Centre was acquired in May 2002 as part of a #11.5m
portfolio of four retail properties through Halladale Ventures Ltd, a joint
venture with Bank of Scotland.

This neighbourhood shopping centre comprises two terraces totalling eight retail
units with a mixed tenant line-up including Blockbuster, Clark Retail and Lloyds
Pharmacy. The property includes a public house let to Scottish & Newcastle and
some 5,300 sq ft of office space let to Renfrew District Council. The property
totals 20,000 sq ft and the current rent stands at #195,400 per annum. The price
reflects a net initial yield of 7.86 per cent.

Montagu Evans advised Halladale and Culverwell & Co acted for the purchaser, a
private investor client.

Ken Lindsay, Property Director of Halladale commented:



"We have successfully concluded our asset management programme at this property
ahead of schedule. We have therefore taken advantage of the strong investor
market for retail properties to realise enhanced value through disposal."





                                    - ends -





For further information please contact:

Ken Lindsay, Property Director, Halladale Group plc          0141 204 4633

Charlotte Lambkin/Charles Reynolds, Bell Pottinger Financial 020 7861 3232

Stuart Lane, Collins Stewart Ltd                             020 7523 8310





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.

  * The value of its portfolio at 31 October 2002, including the aggregate
    value of joint ventures, was #133 million, a year on year increase of 52 per
    cent.

  * At the half-year ended 31 October 2002, profit before tax increased by 23
    per cent to #952,000 year on year and interim dividend increased by 12 per
    cent to 0.56p per ordinary share.

  * Total purchase and sales transactions during the period increased by 42
    per cent to #64 million.

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

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

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




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