Property Sale and Leaseback

RNS Number:7574J
Asfare Group plc
02 October 2006


   Press Release                                             2 October 2006 


                                Asfare Group plc

                          ("Asfare" or "the Company")

                Property Sale for #1.3m and Leaseback Concluded


Asfare Group plc, a leading supplier of products and services to the emergency
and homeland security markets is pleased to announce that it's wholly owned
subsidiary, Todd Research Limited, has sold its' freehold property in Chelmsford
for #1.3m. The property was part of the original assets of Todd Research Limited
whose shares were acquired in November 2005 for a consideration of #1.65m. The
funds from the sale will reduce the current debt levels in the business.



Simultaneously an agreement has been signed to leaseback part of the building.
The reduced requirement for space reflects the outsourcing by Todd Research of
the metal box build capability which was previously undertaken at Chelmsford.



                                    - Ends -





For further information, please contact:

Enquiries:
Asfare Group plc                          www.asfare.com
Tony O'Neill, Chief Executive
Tim O'Connor, Finance Director            Tel: +44 (0) 2380 861 966

Seymour Pierce
Mark Percy                                Tel: +44 (0) 20 7107 8000

Media enquiries:
Abchurch Communications
Charlie.jack                              Tel: +44 (0) 20 7398 7700
charlie.jack@abchurch-group.com




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