RNS Number:6506O
Halladale Group PLC
14 August 2003


14 August 2003



          Halladale and Tilfen Announce Pre-lets at London Development

Halladale Group plc ("Halladale"), the UK property trading and development
company, is pleased to announce that, in conjunction with joint venture partner
Tilfen Land Ltd ("Tilfen"), it is to commence development of a retail trade
counter park scheme in South East London.

The move to build out the first phase at Woolwich Trade Park, Thamesmead, SE28,
follows a series of starter pre-lets to leading covenants.

Signed tenants are HSS, CEF, Bathstore.com and Tile Magic. All have signed
leases of 15 years at rents averaging approx. #12 per sq ft. Two units are under
offer and two remaining units are available at rents of approx. #13 per sq ft.

Completion of phase one, which totals circa 23,000 sq ft and comprises a total
of eight trade counter units and one fast food outlet is scheduled for December
2003. Subsequent phases are to include a car showroom, car wash, hotel and
additional trade counters. The total acreage of the site amounts to 4.5 acres
and the estimated end value of the development is approximately #7 million.

Conway Relf and ING Real Estate advised Halladale and Tilfen.

David Lockhart, CEO of Halladale, commented:

"This is a classic example of Halladale's risk controlled development strategy.
We have secured quality tenants on long leases prior to the commencement of
on-site construction, providing the security of income required to kick start
the project."

David Novi, Managing Director, Tilfen Land, commented:

"Tilfen Land is pleased to have secured such good quality tenants into the first
phase of this development. These will make a significant contribution to the
regeneration of this important gateway site which has been vacant and derelict
for some considerable time."

                                    - ends -

For further information please contact:

David Lockhart, Halladale Group plc                       0141 204 4633

David Rydell / Charles Reynolds, Bell Pottinger           020 7861 3232
Financial                                                 

Stuart Lane, Collins Stewart Ltd                          020 7523 8310

David Novi, Tilfen Land Limited                           020 8319 5040


Full address

Woolwich Trade Park, Pettman Crescent, Thamesmead, London, SE28



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.



Tilfen Land

Reshaping environments, redefining standards

Tilfen Land is a young property development and investment company with a
growing portfolio designed to guide the business through an exciting expansion
programme across the Thames Gateway and beyond. For more information on Tilfen
please visit www.tilfenland.co.uk




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

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