Caffyns PLC
22 June 2007

PROPERTY DISPOSAL

Caffyns plc ('the Company') announces that it has today exchanged conditional contracts for the sale of its vacant  freehold site at Kingsway, Hove, Sussex, which it has owned since 1928, to Banner Homes (Wessex) Limited ('Banner').  The consideration of £4.5 million is payable in cash fifteen weeks following the granting of an acceptable planning  permission and is subject to the completion of certain environmental and other obligations by the Company. The net book value of the site is £1.34 million. Banner is required to submit a detailed planning application by 31 August 2007.

A further announcement will be made when appropriate. Upon completion being fulfilled, the proceeds will be applied in  reducing the Company's borrowings.

Enquiries:

Simon Caffyn
Chief Executive

Mark Harrison
Finance Director

Telephone:  01323 730201






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