Appointment as Development Manager

Northacre PLC

("Northacre" or the "Group")

Appointment as Development Manager

Northacre is pleased to announce that it has entered into a Development Management Agreement under which the Group will be the Development Manager for the development of 26 Chester Square and 48 Eaton Mews South project.

Under the terms of the Development Management Agreement, the Group will be entitled to a fixed development management and interior design fees.

Enquiries:

Northacre PLC Tel: 020 7349 8000

Klas Nilsson (Non-Executive Chairman)

Niccolò Barattieri di San Pietro (Chief Executive Officer)

finnCap Ltd Tel: 020 7220 0500

Stuart Andrews

Henrik Persson