5-03-2004
Peel Holdings p.l.c. has agreed terms for the issue of £90 million of debenture stock

Peel Holdings p.l.c. announced today that its subsidiary, Peel South East plc, agreed terms for the issue of an additional £90 million of debenture stock. The stock is secured against property assets and has a repayment date of 2026. This type of debt satisfies the long term funding requirements of Peel's property investment portfolio.

The Royal Bank of Scotland Corporate Banking, Manchester, arranged the issue.

Peel Holdings is a leading property and transport company in the UK with assets valued at over £2 billion.

Within its four divisions, the businesses include:

• The Trafford Centre, an award winning regional shopping and leisure complex;
  
• Peel Land & Property, owners of substantial property investment, development and land assets;
  
• Peel Ports, operators of the ports of Clydeport and the Manchester Ship Canal; and
  
• Peel Airports, operators of airports at Liverpool, Teesside, Doncaster Finningley and Sheffield City.

for more information please contact:
Alison Tennant
Peel Holdings

Tel: 0161 629 8229

Email: atennant@peel.co.uk