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Macfarlane Group PLC (MACF)

Macfarlane Group PLC

Further re Property Disposals
Macfarlane Group PLC
19 December 2003

                                                                19 December 2003

                            MACFARLANE GROUP UPDATE

In March 2003, Macfarlane indicated that its short-term property disposal
programme anticipated disposal proceeds in excess of £12.0m. On 28 November
2003, following the disposal of the Linwood site, Macfarlane reported cumulative
proceeds in the year to date of £8.6m and identified that there were five
further sites for sale. Expressions of interest have already been received in
respect of three of these sites and proceeds from the five sites are currently
estimated to be in excess of £10.0m, giving total estimated proceeds in excess
of £18.6m.

The Board is committed to reducing the current level of debt and improving the
trading performance of the group. The review of group operations, currently
being undertaken by the Chief Executive is progressing and the results of this
review will be communicated as part of a pre-close trading update in the second
half of January 2004.

Further information:
Archie S. Hunter                 Chairman                     0141 333 9666
Peter D. Atkinson                Chief Executive              0141 333 9666

                      This information is provided by RNS
            The company news service from the London Stock Exchange
Data provided by FE fundinfo. Care has been taken to ensure that the information is correct, but FE fundinfo neither warrants, represents nor guarantees the contents of information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein. Past performance does not predict future performance, it should not be the main or sole reason for making an investment decision. The value of investments and any income from them can fall as well as rise.

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