Palmaris: Charts & Fundamentals

Perhaps Scottish Coals Property potential is similar to UK Coals where 49,500 acres is valued (see below) at £310m=£6250 per acre

UK COAL PLC
Property Portfolio

As already announced, UK COAL PLC will be hosting a presentation to investors
and analysts tomorrow, 7 November, that will focus on the value and development
potential of its land and property interests.
The event will be hosted by Gerry Spindler, Group Chief Executive, and Chris
Mawe, Group Finance Director, and will introduce Jon Lloyd, Group Property
Director and CEO of its property business, Harworth Estates, who joined the
Group in July this year.
The Group owns one of the largest brownfield development portfolios in the UK
with substantial land and property interests covering 49,500 acres. The
presentation will provide an overview of the current scale and nature of the
estate. Management will present its estimate of the future potential of the
Group's priority projects, which include:
* opportunity for the development of sites for over 14,000 homes

* opportunity for the development of 25m square feet of business park
space

Management estimates for the value of these priority projects, once appropriate
consents have been obtained and after allowing for estimated costs relating to
site reclamation and preparation amounts to, in aggregate, in excess of #800
million over the next six years*.
In addition, the presentation will include a indication of the RICS valuation
anticipated as at 31 December 2006 (pre-sales) of the Group's property interests
of approximately #310m (2005 #274m).
The presentation slides will be available on the Group's website www.ukcoal.com
from 7 November.
* This estimate makes no allowance for the impact of inflation or the time
value of money.
Chief Executive Gerry Spindler said:
"In our half year statement, and on 13 October when we announced the full update
we would give at tomorrow's presentation, we pointed to the significant future
prospects for our property portfolio under the direction of Jon Lloyd who joined
us in July this year as our new Property Director. Tomorrow we will be
quantifying the scope we see for creating value from our property interests over
the relatively near term. Given the nature of the portfolio the formal annual
valuations do not yet adequately reflect the potential impact of achieving
planning consents for which many of our sites are particularly well placed."