Sale of Property

Wynnstay Properties PLC 30 September 2002 Wynnstay Properties PLC 30 September 2002 Sale of Investment Property Wynnstay Properties PLC announces that on Friday 27 September 2002 it exchanged contracts on and simultaneously completed the sale of its freehold property at 12 North Hill, Colchester, Essex for a cash consideration of £270,000 compared with its valuation of £165,000 at 25 March 2002, representing a profit on disposal of £105,000 before costs. The property, comprising 3 floors of office accommodation, currently produces a rental income of £18,000 p.a. The proceeds will be applied in reducing bank borrowings. Commenting on the transaction, Philip Collins, Chairman, said 'The sale of this small office property, at an attractive price, is in pursuance of the Company's stated objective of making selective disposals and concentrating future investment in central southern England.' End This information is provided by RNS The company news service from the London Stock Exchange