FREEPORT PLC
                                    
For Immediate Release

10 September 2003

COMPLETION OF DISPOSAL OF BRAINTREE LEISURE LIMITED

Freeport  plc ("Freeport"), a leading owner, developer and  operator  of
designer  outlet villages in Europe, today announces that completion  of
the  disposal of its wholly owned subsidiary, Braintree Leisure  Limited
("BLL"),  took  place earlier than contracted on 8 September  2003.  BLL
owns  and  operates  the  Leisure  Development  adjacent  to  Freeport's
designer  outlet shopping village at Braintree, Essex. The sale  of  BLL
for �16.5 million was announced on 3 July 2003 following the exchange of
contracts.

Following  completion, the balance of the sale price of  �14.96  million
remains on interest bearing secured loans of which �460,000 is repayable
in  March  2004  with the remainder repayable not later than  the  third
anniversary of completion.

Enquiries:

Sean Collidge, Freeport plc           ++44 (0) 20 72999360
                                      
Stephen Benzikie/James Horsman,       ++44 (0) 20 73441200
Edelman Financial