WSPH White Star

    White Star Property Holdings Plc ("White Star" or the "Company")        

                            Disposal of Investment                             

The board of the Company announces that on 28 February 2006 White Star disposed
of 7,500,000 shares in Ionian Estates Plc at 0.4p per share and no longer holds
a notifiable interest in the Ionian Estates Plc.

Both Vincent Nicholls and Michal Nash, directors of the Company are also
directors of Ionian Estates Plc.

End

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