GKLL Gaskell

RNS Number:6419Z
Gaskell PLC
07 August 2002



Issued by Citigate Dewe Rogerson Limited, Birmingham

Date: Wednesday 7 August 2002                                  Embargoed: 7.00am



                     Gaskell PLC ("Gaskell" or "the Group")

                               Property Disposal


The Board of Gaskell is pleased to announce that yesterday it exchanged
contracts for the sale of its vacant Rhoden Mill site, based in Oswaldtwistle to
Dasmin Developments Limited for cash consideration of #0.5 million, which is
approximately equal to the book value.

Completion is conditional upon the demolition of the building being finalised.
It is expected that completion will take place on 30 August 2002.

The proceeds from the disposal will be used to reduce the Group's borrowings.


Enquiries:

Gerry Wheeler, Chief Executive                    Alan Cooke, Account Manager
Richard Hopkin, Group Finance Director            Katie Dale, Account Executive
Gaskell PLC                                       Citigate Dewe Rogerson
Tel: 01282 777890                                 Tel: 0121 455 8370




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

END

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