GRMP Grampian

RNS Number:1237P
Grampian Hldgs PLC
21 December 2001

                                                             21 December, 2001


                           GRAMPIAN HOLDINGS P.L.C.

                              PROPERTY DISPOSAL

Grampian Holdings p.l.c. ("Grampian") announces that it has completed the sale
of the remaining properties owned by Grampian (the "Property Disposal") and
occupied by The Edinburgh Woollen Mill Limited ("EWM") to Racepool Limited for
#12.92 million in cash.


Grampian announced its intention to dispose of these properties separately
from its disposal of EWM on 28 June, 2001, at the same time as it announced
the proposed disposal by Grampian of EWM (the "EWM Disposal") for a cash
consideration of #49 million. Completion of the EWM Disposal was announced on
25 July, 2001.


Under the terms of the leases with EWM, the properties, totalling 22 in
number, had annual gross rental income of approximately #1.2 million. The net
book value of these properties as at 3 August, 2001 was approximately #7.5
million. Total proceeds realised from the sale of properties by Grampian this
year (which include #280,000 from a property disposal by Grampian to EWM at
the time of the EWM Disposal) are approximately #13.2 million.


The total proceeds from both the disposal of these retail properties by
Grampian this year and the EWM Disposal amount to approximately #62 million.
As stated in Grampian's circular to shareholders dated 6 July, 2001, it is the
intention of the Board of Grampian, subject to the necessary Court and
shareholder approvals, to return approximately #45 million of the total
proceeds to shareholders. Now that the Property Disposal has been completed,
Grampian will announce further details today.

Enquiries:

Grampian                           David McGibbon         0141 357 2000
Deutsche Bank                      Jeremy Lucas           020 7545 8000
Cazenove                           Malcolm Moir           020 7588 2828

Holborn Public Relations           David Bick             020 7929 5599

Media House                        Tom Cassidy            0141 226 3700



Deutsche Bank, which is regulated in the United Kingdom for the conduct of
designated investment business by the Financial Services Authority, is acting
for Grampian and no one else in connection with the Property Disposal and will
not be responsible to anyone other than Grampian for providing the protections
afforded to customers of Deutsche Bank or for providing advice in relation to
the Property Disposal.

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