RNS Number:2419M
Eurocity Properties PLC
14 June 2000


EUROCITY PROPERTIES PLC ACQUIRES SCOTTISH HIGH STREET RETAIL
                      UNIT FOR #340,000
                              
Eurocity Properties Plc ("Eurocity"), the AIM listed
property investment property run by Baron Bloom, today
announces the expansion of its #3m Scottish portfolio
through the purchase of a feuhold retail property in Elgin,
Morayshire, for #340,000.

The acquisition has been satisfied as to a cash payment of
#310,000 and the balance through the issue of 60,000 new
ordinary shares at 50p each. The purchase has been financed
by a new company loan of #265,000 with the remainder from
existing cash resources.

Located in Elgin's High Street, adjacent to the Next unit,
the shop is let on a 20 year lease with approximately 10
years remaining to a multiple retailer at a current annual
rent of #29,850 and has been valued at #370,000.

Baron Bloom, Eurocity's Managing Director, said: "This
property fits in well with our existing Scottish retail
portfolio and should provide an immediate modest benefit
both to our balance sheet and profitability."

Contact:
     Baron Bloom, Managing Director, Eurocity.         Tel:  020 7495 7799
     Robert Lo or Keith Smith,
     Nabarro Wells & Co Limited (Nominated Advisor)    Tel:  020 7710 7400
     Baron Phillips or Joanna Fifield, Bankside.       Tel:  020 7220 7477
                 

END
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