Receipt of Dividend and Update on The Lancasters

8 April 2013

Northacre PLC ("Northacre")

Receipt of £10m Dividend and Update on The Lancasters

Northacre announces that it has today received an interim dividend of £10,000,000 from Lancaster Gate (Hyde Park) Ltd, our joint venture with Minerva. This is the fifth interim dividend from this development project and brings the total received to date to £37.7m.

All but one of the apartments in the Lancasters development have now been sold and it is our current estimate that our total profit share (net of corporation tax) is likely to be in the region of £49.8m. As noted above, we have received £37.7m to date in dividends from this project, and therefore we estimate that a further £12.1m will be forthcoming.

Enquiries:

Northacre PLC Tel: 020 7349 8000

Ken MacRae (Chief Executive Officer & Finance Director)

Klas Nilsson (Non-Executive Chairman)

finnCap Ltd Tel: 020 7220 0500

Stuart Andrews

Henrik Persson

Hudson Sandler Ltd Tel: 020 7796 4133

Michael Sandler