GFF Griffin Grp.

RNS Number:2691E
Pearl Street Holdings PLC
20 October 2004






FOR IMMEDIATE RELEASE                                         20 October 2004

          PEARL STREET HOLDINGS PLC ("Pearl Street" or the "Company")
                            SIGNIFICANT SHAREHOLDING

The Company was informed on 18 October 2004 that on that date Guardian Capital
Ventures Limited ("Guardian Capital") purchased 5,000,000 Ordinary Shares of 1p
each (the "Shares") at 4.5p per Share from Griffin Group plc ("Griffin") and
subsequently has a holding which represents 21.4% of the Company's issued share
capital.

Following the sale and purchase described above, Griffin is now interested in
10,000,000 Shares, representing 42.9% of the Company's issued share capital.

Contact:

Vince Nicholls, Pearl Street Holdings plc: 07767 420160





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

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