WSPH White Star

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

                      Trading update and issue of equity                       

The board announces that it has entered into a joint venture agreement with
Acorn Homes Limited with the objective of acquiring property related assets.

The agreement comes at the same time as the completion of a placing of
12,500,000 new ordinary shares of 1p in the Company at a price of 1p per share
representing approximately 7 per cent. of the issued ordinary share capital of
the Company, raising in aggregate �125,000 to finance the initial joint venture
costs.

The new ordinary shares will rank pari passu with the existing shares of the
Company.

Application has been made for 12,500,000 new ordinary shares to be admitted to
trading on AIM and it is expected that admission will take place on 10 August
2006.

The Company's ambition is to embark on a programme of land and development
investment opportunities which the board believes will achieve an above average
return.

Following admission, the issued share capital of the Company will be
193,559,500 ordinary shares.

Pursuant to section 198 of the Companies Act 1985 the Company has been informed
by Saletta Property Finance Limited that following the private placing noted
above that it now has an interest in 40,000,000 ordinary shares in the Company
representing approximately 20.7% of the Company's issued share capital.

For further information:

Luca Tenuta, Director

White Star Property Holdings Plc

Telephone: +44 (0) 20 7486 3703

Liam Murray

City Financial Associates Limited

Telephone: +44 (0) 20 7090 7800



END

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