PLG Playgolf

RNS Number:5645P
Playgolf (Holdings) PLC
16 January 2007


                             Playgolf Holdings Plc

                         ("Playgolf" or "the Company")

                                 Joint Venture

Playgolf's wholly owned subsidiary Playgolf Eastkilbride Limited has signed a
joint venture agreement with Scottish property developer Kilmartin to develop
its East Kilbride site. Kilmartin are subscribing for a 50% stake in the
development and Playgolf will receive an initial #2m. The development, which
follows on from the award winning Playgolf Northwick Park, promises to establish
a new level for public sports facilities in the UK.

The joint venture brings together Kilmartin, which has #1.5 billion of projects
in its portfolio, with Playgolf which is at the forefront of a revolution in the
creation and development of public sports projects.

David Piggins, Chief Executive of Playgolf, gave his reaction, 'We expect East
Kilbride to be the first of a number of developments which we will undertake
together. Kilmartin's expertise and land bank give us the resources that we have
lacked to develop more quickly. The paucity of good quality public sports
infrastructure in the UK has become a major issue and the appetite to change
this, particularly within government and local authorities, has never been
stronger. This partnership with one of the UK's fastest growing property
companies gives us the opportunity to ensure that we take full advantage of the
position we have created in this field over the last few years.'

Iain Wotherspoon, Chairman and Chief Executive of Kilmartin, hailed the deal as
'an exciting step for both companies. We have identified the sports/leisure
market as one of the key growth areas in UK property and Playgolf are the
innovators in the field. It has been the cornerstone of our rapid growth to work
in joint ventures with experts in the fields that most interest us. Having HBoS
behind us has allowed us to act as a catalyst for growth for companies with
potential. We intend this to be a major focus for us over the next few years.'

Work will start on the East Kilbride scheme in the spring.

For further information please contact Tom Jenkins at Daniel Stewart on 0207
7766550



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            The company news service from the London Stock Exchange

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