WTC Westcity

    RNS Number : 5542H
  Westcity PLC
  06 November 2008
   
    Westcity plc

    Termination of Kenny Heights development project

    Westcity plc announces that, in view of current market conditions, the share sale agreement dated 1 November 2007 and associated
transaction documents between, among others, Stonehage Westcity Property Fund and SWX Malaysia Limited relating to the sale and purchase of
40% of Kenny Heights Westcity Sdn. Bhd. and the development of a mixed residential and retail project in Kuala Lumpur, Malaysia known as
Kenny Heights, have today been mutually terminated with no further obligations to or claims against any other parties thereto.  

    Following this, neither the Stonehage Westcity Property Fund nor the Company will have any further involvement with the Kenny Heights
development project.

    The Stonehage Westcity Property Fund, together with Wescity plc as its property adviser, continue to seek global real estate investment
opportunities which will achieve acceptable rates of return for the fund's investors.

    Enquiries:


 Westcity plc                                  + 44(0)207 424 6700
 Ira Rapp, Chief Executive Officer                                
                                                                  
 KBC Peel Hunt (Nominated adviser and Broker)   +44(0)207 418 8900
 Alex Vaughan                                                     
 Oliver Stratton                                                  

This information is provided by RNS
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  END 
 
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