Disposal of investment

20 October 2009 Panther Securities PLC ("Panther" or "Group") Cash received from sale of Rugby Estates Investment Trust plc holding Panther is pleased to announce that it has recently received £2,360,000 cash following the sale of its entire holding in Rugby Estates Investment Trust plc ("REIT") being 5,770,000 ordinary shares. This consideration for the sale represents a profit of £766,000 based on the written down net book value of the investment, which was included in the Company's results for the six months ended 30 June 2009 as announced on 9 September 2009 (a profit of £651,000 based on written down net book value) as at 31 December 2008 and a loss of £1,030,000 based on the original cost of the investment. For further information contact: Panther Securities PLC 020 7278 8011 Andrew Perloff - Chairman Simon Peters - Finance Director