GFF Griffin Grp.

RNS Number:1748Q
Griffin Group PLC
16 August 2005




FOR IMMEDIATE RELEASE                           16 August 2005


                               GRIFFIN GROUP plc

                       ("Griffin Group" or "the Company")
                          Sale of shares in Tower plc


The Board of Griffin Group announces that on 15 August 2005 Griffin Two Limited
("Griffin Two"), a wholly owned subsidiary of the Company, sold 3,500,000
ordinary shares of 1p each in the capital of Tower plc ("Tower Ordinary Shares")
at a price of 2.6p per Tower Ordinary Share, and 5,000,000 Tower Ordinary Shares
at a price of 2.25 p per Tower Ordinary Share for a total consideration of
#203,500. Following this sale, Griffin Group, and the entities under the control
of the Griffin Group, has an interest in 11,281,773 Tower Ordinary Shares which
represents 2.87% of the entire issued share capital of Tower plc.

The Board of Griffin Group also announces that on 16 August 2005, Griffin Group
and Griffin Two, following further disposals of Tower Ordinary Shares, no longer
has a notifiable interest in the issued share capital of Tower plc.

ENDS

Enquiries:

Griffin Group plc
Stephen Dean, Chairman 0034 605 282 211

Beaumont Cornish Limited
Roland Cornish 020 7628 3396




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

END
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