SDOO Springdoo

RNS Number:0353K
Springdoo PLC
17 December 2007

                                 Springdoo plc
                                (the "Company")

                           Disposal of Freehold Land


The Company announces that it has entered into an agreement to dispose of the
freehold land held by the Company located at Carey Close, St Nicholas Circle,
Leicester (the "Leicester Site") to Hallco 1486 Ltd, for a consideration of
�1,000,000 (the "Disposal").


Hallco 1486 Ltd is a company in which John Trevor Bargh, a former director of
the Company within the last twelve months, has a material interest.


The Leicester Site is located on one of the main arterial routes into Leicester
city centre and is currently cleared and awaiting development. Planning
permission has been obtained for a new development on the site consisting
principally of student accommodation.


As at 31 March 2007, the Leicester Site was recorded in the Company's balance
sheet at �1,181,277 . The Leicester Site did not generate any turnover during
the twelve months to 31 March 2007.


The net proceeds of �975,000 from the Disposal will be used by the Company to
reduce borrowings.


The directors of the Company, having consulted with WH Ireland Limited, the
Company's nominated adviser, consider that the terms of the Disposal are fair
and reasonable and in the best interests of the Company and its shareholders.


For further information please contact:


Lee Dudack, Springdoo plc                  Tel: 07799 775 141

David Youngman, WH Ireland Ltd             Tel: 0161 832 2174


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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