MRF Moorfield Grp.

RNS No 1473k
MOORFIELD GROUP PLC
28 September 1999

                                                                 
                The Government Gives Go-Ahead to
     Southside Development at Teesside International Airport
                                

On  13  April  1999,  Moorfield  Group  PLC  announced  that  the
Secretary  of  State  for  the  Department  of  the  Environment,
Transport and the Regions, John Prescott, approved "in principle"
the  first phase of a multi-million pound development at Teesside
International  Airport.  We are able today, to announce  that  he
has  given the final go-ahead to the development, which  was  the
subject of a planning application made in September 1995.

Mr  Prescott's final decision has taken into account a number  of
planning conditions, including the strengthening of proposals for
public  transport access.  The Teesside proposal is in line  with
Government  policy  to  encourage  the  development  of  regional
airports  and to help relieve pressure on airports in  the  South
East.

The  Southside  Development is designed to provide  accommodation
for  airport  related users, including operators at  the  leading
edge  of  industry.  It is anticipated that the development  will
generate some 5,000 jobs in the area where unemployment is almost
twice  the national average and over #4 million will be spent  on
local  transport networks to ensure that they keep pace with  the
development.

Marc Gilbard, Managing Director of Moorfield Group PLC, said:
"We  are  very pleased with the Secretary of State's decision  to
give   final   approval  to  the  Southside   Development.    The
partnership  between Moorfield, the airport  owners  and  airport
management  remains  strong and there is a  commitment  from  all
concerned  to see the development realised alongside an expansion
of the operational facilities."

For further enquiries please contact:
Marc Gilbard
Moorfield Group PLC                          0171 399 1900

Charlotte Lambkin
Bell Pottinger Financial                     0171 353 9203


Note to editors
Moorfield Group PLC is a quoted property investment, trading  and
development  company.  The Moorfield strategy is to  combine  the
benefits of being a listed public company with the key structural
advantages  available to private equity funds.   This  gives  the
Company  considerable  freedom in the  scale  and  range  of  its
investment activity and enables it to pursue the maximisation  of
returns on equity invested.


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