CRGR Corin Group Rfd

RNS No 5569j
CRAIG & ROSE PLC
5 August 1999


         CRAIG & ROSE PLC ("Craig & Rose" or "the Company")
                                  
 Result of discussions regarding a possible offer by A S Perloff Esq

On  22nd  July,  1999 Andrew Perloff announced that he  intended  to
approach  the Board of Craig & Rose and Bell Lawrie Wise Speke,  the
independent financial adviser to the Board of Craig & Rose, to  seek
discussions with them and the other members of the Concert Party  to
ascertain whether cash offers by him of 180p per Ordinary Stock unit
and 100p per Preference Stock unit would gain the recommendation  of
Bell  Lawrie Wise Speke and whether undertakings to accept  such  an
offer  would be received from Mr Cunningham or other members of  the
Concert  Party to allow an acceptance condition of 50 per  cent.  of
the issued ordinary stock to be achieved.

Discussions have been taking place since 22nd July, 1999.   However,
Mr Cunningham and the members of the Concert Party did not accept Mr
Perloff's  proposals and their counter proposal, was not  acceptable
to Mr Perloff.

When  it  became  apparent that terms could not be  agreed  with  Mr
Cunningham  and the other members of the Concert Party,  Mr  Perloff
offered  to acquire the property at 172 Leith Walk from the  Company
at  a higher price than the valuation included in the offer document
issued  by  Dickson  Minto W.S., on behalf  of  Mr  Cunningham.   Mr
Perloff  had  offered  to  pay  to any shareholders  who  accept  Mr
Cunningham's offer, an additional 45p per Ordinary Stock unit  (over
and  above  the  135p per Ordinary Stock unit being  offered  by  Mr
Cunningham).   In addition Mr Perloff offered to pay  an  additional
sum to Craig & Rose if planning permission were to be granted.  This
proposal was rejected by the Board of Craig & Rose.

Accordingly,  Mr  Perloff is therefore unable to  proceed  with  his
plans to provide Craig & Rose shareholders who wish to realise their
investment in Craig & Rose with a better offer than that made by  Mr
Cunningham.   Mr  Perloff does not presently intend  to  accept  the
offer  by  Mr  Cunningham  and will work  to  protect  the  minority
interests of the shareholders in Craig & Rose.

Enquiries

Andrew Perloff                                         0171 278 8011

John East & Partners
David Worlidge                                         0171 628 2200

Andrew  Perloff accepts responsibility for the information contained
in  this  announcement.   To the best of his  knowledge  and  belief
(having  taken all reasonable care to ensure that this is the  case)
such  information  for  which  he  accepts  responsibility  in  this
announcement  is  in accordance with the facts  and  does  not  omit
anything likely to affect the import of such information.

John  East & Partners Limited of Crystal Gate, 28-30 Worship Street,
London  EC2A  2AH, has approved this announcement as  an  investment
advertisement solely for the purposes of Section 57 of the Financial
Services Act 1986.  John East & Partners Limited is regulated by The
Securities and Futures Authority Limited.



END

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