ORE Orogen

RNS No 8797b
ORB ESTATES PLC
2ND JULY 1997

Sale of Investment properties at Great Valley Parkway,
Chester County, Pennsylvania, USA

On 30 June 1997 Nairn Great Valley Inc., a wholly owned subsidiary of Orb
Estates PLC ("Orb"), completed the sale of numbers 1 and 5 Great Valley
Parkway to Liberty Property Limited Partnership for USD 10.8m in cash.

The properties comprise two buildings totalling 125,000 sq ft net of office
and laboratory accommodation in an established business park near
Philadelphia.

The equity in the properties is charged as security for a loan which was ring
fenced under the re-financing agreements entered into by Orb in December 1993.
 Of the gross proceeds from the disposal approximately USD 9.9m will be
applied in the repayment of local mortgage borrowings, the payment of local
taxes and the costs of the disposal.  Pursuant to a Priorities Agreement
entered into in 1994, the balance of USD 1m has been split between Orb and the
relevant ring fenced bank in the ratio 2/9ths to Orb and 7/9ths to the bank. 
The net proceeds accruing to Orb of approximately USD220,000 will be applied
towards working capital.

Enquiries

Philip Ridal
Orb Estates       0171 629 0041


END

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