Exchange of contracts to sell property interests around Fleet Street

Friday 2 January 1998

On 22 December 1997, Daily Mail and General Trust plc and wholly owned subsidiaries exchanged contracts with a subsidiary of Hilstone Corporation Limited to sell various property interests, not including Carmelite House, around the Fleet Street area of London and in Manchester for a consideration of ｣25 million, of which ｣3 million is deferred for one year.

The transaction is expected to give rise to an exceptional profit for DMGT of approximately ｣5.5 million in the current year under current accounting standards.

Press enquiries to:
Peter Williams 0171 938 6631

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