M&L Property & Assets Plc                           
                                    (the "Company")                                

                                 Update and Suspension                             

    The Board of the Company announces that it has today been informed by the
    Company's asset manager, M & L Capital Management Limited, that unauthorised
    sales of Company properties have apparently taken place and that there is a
    possibility that Company funds have been misappropriated.

    The Board is urgently investigating this matter and will report back to
    shareholders as soon as possible.

    In the meantime, due to the fundamental uncertainty created, the Board has
    requested that the Company's shares be suspended from trading on AIM with
    immediate effect.

    For further information, please contact:

    The Directors                                                 
    Barry Smith                                                   
    Tel: +44 1624 699000                                          
                                                                  
    Asset Manager:                                                
    M & L Capital Management Limited                              
    Tel: +44 (0)20 7584 5733                                      
                                                                  
    Nominated Adviser:                                            
    Liam Murray / Tony Rawlinson / Jo Turner                      
    Cairn Financial Advisers LLP                                  
    Tel: +44 (0)20 7148 7900