PGI Pgi Grp

RNS Number:8809S
PGI Group PLC
19 October 2005


PGI Group Plc

PGI Group Plc ("the Group") announces that its subsidiary The Anglo-Indonesian
Corporation Ltd has disposed of the whole of its 65% shareholding in P T Tatar
Anyar, Indonesia ("PTTA") to Mr A Z Soeleiman for a cash consideration of
US$655,000 paid in full on completion.

PTTA operates three tea estates and a rubber estate in Java. The value of its
gross assets, in the last published group accounts, at 31st December 2004
amounted to #3.048 million and for the year ended on that date it recorded a
loss before tax of #223,000.

The consideration has been satisfied in cash and the proceeds will be used by
the Group to reduce net group borrowings.

The disposal represents a step in the policy declared at the time of the
acquisition of Jensen for the Group to focus on its continuing plantation
operations in Africa and on the Russian property investment management company.




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