Preliminary Results for the year ended 30 June 2008

Inland, which specialises in buying brownfield sites and enhancing their value by obtaining planning permission, today announces preliminary results for the year ended 30 June 2008.

Financial Highlights

Turnover £11.01m (2007: £5.47m)
Operating profit before exceptional costs £0.71m (2007: £1.36m)
Exceptional costs £4.78m (2007: £Nil)
Pre tax loss £4.19m (2007: Profit £1.12m)
Cash £4.6m (2007: £42.84m)
Stocks £47.68m (2007: £38.79m)
Net asset value per share 32.9p (2007: 38.1p)

Operational highlights

Portfolio of 20 development sites
Potential for development of 1,360 plots and 253,000 sq ft of commercial space
Secured residential and commercial letting income of £636,000 p.a
Examining alternative uses for development land driven by the hotel and nursing home sectors

Stephen Wicks, Chief Executive of Inland commented:

"Over the last six months we have witnessed a rapid decline in the UK housing market with both consumer and investor confidence now very low.

In these challenging trading conditions the demand for development land remains weak. In the long term however planning constraints and the underlying demand for new homes will ensure that when market conditions return to normal our attractive well located landbank will be a valuable commodity.

We have an excellent and capable team in place and are therefore confident of achieving good returns for our shareholders in the longer term."

Click here to view the Preliminary Results for the year ended 30 June 2008 report

For further information please contact:

Inland Plc
Stephen Wicks, Chief Executive
Nishith Malde, Finance Director
Tel: 01923 713 600

Buchanan Communications
Jeremy Garcia / Mark Edwards
Tel: 020 7466 5000

KBC Peel Hunt Ltd
Julian Blunt / Nicholas Marren
Tel: 020 7418 8900