RNS Number:0216N
Stewart & Wight PLC
01 July 2003

                              STEWART & WIGHT PLC

                       845 FINCHLEY ROAD, LONDON NW11 8NA

                     TEL: 020 8455 1111 FAX: 020 8455 9191



                                  ANNOUNCEMENT


                              STEWART & WIGHT PLC


1 July 2003


Stewart & Wight plc has contracted to purchase the freehold property, known as
18 Silver Street, Durham, for the price of #1.8 million with completion due on
18 July 2003.

The whole of the property is let for a term of 25 years from 8 August 1983 to
Etam plc at a current rent of #108,100 per annum with rent reviews on 1 August
2003 and 1 August 2008. The purchase will be funded with the aid of a loan from
Barclays Bank plc.

The Board of Stewart & Wight plc consider that this latest acquisition will be a
significant addition to the property portfolio of the Company.




DAVID CRAMER

Director


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

ACQFGGGNDMVGFZM