RNS No 4473t
CRESTON LAND & ESTATES PLC
8th January 1998


Exercise of Warrants


Creston Land & Estates plc announces that holders of 3,000 warrants have
exercised their subscription rights to subscribe for 3,000 ordinary 1p shares
at 15p per share.

Application is being made to the London Stock Exchange for these shares to be
dealt in on the Official List.  It is expected Listing will become effective
and dealings will commence on 15 January 1998.

The shares rank pari passu with existing ordinary shares of Creston Land &
Estates plc.



END


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