Property Recycling Acquisition

    Acquisition
             

26                                                              March
2008
                    Property Recycling Group plc
                       ("Property Recycling")
Acquisition

Property  Recycling  (AIM:   PROP),  which   acquires  and   prepares
brownfield sites  for development,  announces that  it has  exchanged
contracts to acquire a 121 hectares (299 acres) site at Kentford near
Newmarket in  Suffolk for  £1.96 million.  Completion will  be on  22
April 2008.

The site  is  located  adjacent  to  the  A14  and  is  currently  in
agricultural use.  The  site  includes 3  dwellings  with  associated
traditional farm and stud buildings and  a restored landfill site  of
over 6 hectares (16 acres). In  the short term rental income will  be
generated from the dwellings and  the agricultural land. The site  is
subject to an overage provision in favour of the vendor for 21 years,
triggered by the implementation  of a change of  use and measured  by
the change in market value.

Commenting on the  acquisition, Paul Rackham,  Chairman, said,  "This
property is  well  located. It  has  previously been  considered  for
substantial  development.   We  believe   there  are   a  number   of
enterprising ways of deriving value from the site."
                               -Ends-

Paul Rackham, Chairman, Property Recycling Group plc     01953 717176

Geoff Nash/  Rose Herbert,  FinnCap, Nominated  adviser 020 7600 1658
and joint broker
Robert Luetchford/John Webb, Marshall Securities, Joint 020 7490 3788
broker

Visit our website: propertyrecycling.co.uk

Notes to Editors

Property Recycling,  which floated  on AIM  in 2005,  specialises  in
acquiring and improving  brownfield sites for  sale to developers  or
future end  users.  The  Group  selects  sites  where  value  can  be
increased  significantly   through   remedial  works   and   improved
planning.

The Norfolk  based company  operates against  a backdrop  of an  ever
increasing  national   shortage   of   residential   and   commercial
development land, a pressure felt particularly in the South East  and
East of  England.   The  directors believe  that the  development  of
brownfield sites - predominately redundant industrial sites - is more
likely to gain local acceptance than that of greenfield sites.

Following this  acquisition, the  Group's portfolio  will comprise  7
freehold sites totalling 329 hectares.

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