RNS Number:5382I
Grosvenor Land Holdings PLC
11 March 2003


                          Grosvenor Land Holdings Plc

                               ("Grosvenor Land")

                GROSVENOR LAND SELLS PROPERTY FOR #2.62 MILLION


Grosvenor Land, the AIM Listed property investment company is selling its '
Avalon House' property in Portsmouth for #2.62 million in cash to DKF
Developments Ltd. The money raised will be used to reduce gearing and provide
further capital to make selective acquisitions to expand its 'Powerhub' business
centre concept.

The sale of the property, which comprises of two retail units occupied by
Woolwich plc and Subway Southampton Limited and 18 residential apartments, has a
completion date set for 27th March 2003.

Douglas Blausten, CEO of Grosvenor Land said: "Our current strategy is to expand
the 'Powerhub' business centre concept which has proven extremely successful at
our flagship complex in Maidstone. As a result we are selling our non core
properties to release profit and provide increased funding to achieve our
objectives. We are currently looking at a number of large commercial sites to
expand the business and hope to make an announcement in the not too distant
future."

                                    E N D S

Issued on behalf of Grosvenor Land Holdings PLC, 25 Gilbert Street, Grosvenor
Square, London W1Y 2EJ, by St Brides Media & Finance Ltd.

Contacts:

Douglas Blausten       Grosvenor Land           Tel: 020 7408 2222

Hugo de Salis          St Brides Media          Tel: 020 7242 4477


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