Sale of property

Camellia PLC 11 November 2003 Camellia Plc - Sale of property WDG Properties Limited, a subsidiary undertaking of Camellia Plc, has today entered into a contract for the sale of its freehold interest in the Banbury Tea Warehouses, Beaumont Industrial Estate, Banbury to Clerical Medical Investment Group Limited. Completion will take place on 21st November 2003. WDG Properties Limited is a property holding company for certain properties within the group. The consideration, which will be paid in cash on completion, is £22.1 million before expenses. As at 31st October 2003 the net asset value of the property was £0.69 million. The attributable profit after tax generated by rental income was £1.08 million in the last financial year. The Banbury Tea Warehouses were built by the group over 30 years ago to store tea. The group's requirements for the warehouses ceased in 1984 and since then the warehouses have been let to external tenants. The board is of the view that it is no longer appropriate for the group to continue to own these properties. It is proposed that the sale proceeds are used to reduce bank borrowings and for future working capital requirements. Enquiries: Malcolm Perkins: 01622 746655 MDC/IS 11th November 2003 This information is provided by RNS The company news service from the London Stock Exchange