RNS Number:4543J
Grosvenor Land Holdings PLC
01 April 2003

                          Grosvenor Land Holdings Plc

                      ("Grosvenor Land" or "the Company")

 GROSVENOR LAND TO EXPAND POWERHUB CONCEPT THROUGH PURCHASE OF CRAWLEY PROPERTY
                            FOR #3.7 MILLION IN CASH

Grosvenor Land, the AIM Listed property investment company, exchanged contracts
on 31 March 2003 to purchase a 143,000 sq ft distribution warehouse estate near
Crawley, West Sussex for #3.7 million in cash. The Company intends to brand the
complex under its successful "Powerhub" banner and undertake various
improvements to increase the rental income from the property.

The purchase is being financed through a #2.73 million banking facility plus a
further #0.97 million from the Company's existing cash balances. The estate is
currently let at a combined rental of #517,000 per annum (#3.70 per sq ft)
although there is a current concessionary rental until June 2003 of #282,000 per
annum.

Douglas Blausten, CEO of Grosvenor Land said: "We have been searching for some
time for an appropriate commercial property to expand our 'Powerhub' business
concept that provides flexible distribution/industrial premises to the business
community. This site fits our specified criteria, is ideally located near
Gatwick Airport and has excellent road communications as well as benefiting from
a railhead on site.

"Once we have finalised the purchase, our aim is to invest approximately
#250,000 to improve the infrastructure, undertake repairs and improvements to
the property and re-brand the complex as a 'Powerhub'. Following this we will
restructure the leasing agreements with the existing tenants and will look to
improve the yield by increasing the sites capacity.

"We are now focusing our activities on replicating the success achieved at our
flagship 'Powerhub' complex in Maidstone. We hope to continue to role out
further sites, and as a result we are selling our non-core properties at a
profit to provide increased funding. We are currently looking at additional
large commercial sites in order to achieve our objectives and hope to make
further announcements in the not too distant future."

                                      ENDS

Issued on behalf of Grosvenor Land Holdings PLC, 25 Gilbert Street, Grosvenor
Square, London W1Y 2EJ, by St Brides Media & Finance Ltd.

Contacts:

Douglas Blausten       Grosvenor Land           Tel: 020 7408 2222

Hugo de Salis          St Brides Media          Tel: 020 7242 4477


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