RNS Number:8317S
Stewart & Wight PLC
03 December 2003

                              STEWART & WIGHT PLC


                       845 FINCHLEY ROAD, LONDON NW11 8NA


                     TEL: 020 8455 1111 FAX: 020 8455 9191





                                  ANNOUNCEMENT


                              STEWART & WIGHT PLC




3 December 2003




On 3 December 2003, Stewart & Wight plc sold at auction the freehold property
known as 206/210 Bishopsgate, London EC2 for the price of #1,460,000, payable in
cash with completion due on 8 January 2004. The property is currently let in
multiple occupation on seven separate tenancies at a total of #80,000 per annum.


Corporation Tax will be payable on the gain in value of the property from 1982,
less an appropriate allowance for indexation. The property stands in the balance
sheet of the Company at a value of #800,000.


The Board of Stewart & Wight considers the sale is in the best interests of the
Company and intends to utilise the net proceeds of sale in the reduction of bank
borrowing.


An independent revaluation of the Company's properties will be made as at 31
March 2004.






DAVID M CRAMER

Director







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