APP Appreciate Group Plc

RNS Number:0040D
Park Group PLC
23 December 1999


             Park Group Raising #4 million through
                Sale and Leaseback Arrangement


Park  Group plc, the financial services and marketing company,
is  raising  #4  million  through  a  sale  and  leaseback  of
properties at its principal site in Birkenhead.

Budworth  Properties, Park's wholly owned property subsidiary,
has  today  exchanged  contracts with  The  Second  Industrial
Partnership  Limited for the sale of its freehold interest  in
various offices and warehouse premises at Birkenhead.  Of  the
total consideration, #3.75 million will be paid on completion,
scheduled  for  19  January 2000.  The  remaining  payment  of
#250,000,  which is subject to the satisfactory completion  of
certain  environmental survey work, will  be  deferred  for  a
period not exceeding 12 months.

The  net  book value of the assets to be sold is expected,  at
completion, to amount to #4.4 million.

One  of  the  warehouse  premises is being  sold  with  vacant
possession.  The remaining properties are being leased back by
Park Financial Services Limited for periods of either 3 or  10
years.  Initial rents will aggregate to #425,000 a year.

The  proceeds  of  sale  will provide funds  for  the  ongoing
development  of Park Direct Credit Limited, the  group's  home
collected  credit business launched in October  1998  and  now
operating  in  the  North  West and  North  East  of  England,
Yorkshire and Scotland.


Enquiries:

Alastair Kerr
Chief Executive
Park Group plc
Tel:  0151 653 1700


END
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