Gleeson predicts high demand in 2004

Gleeson has admitted today (Wednesday) that it expects the group's construction divisions and
subsidiaries to continue to benefit from high levels of demand in the current year and beyond, particularly in the public sector.

Although the commercial property market remains subdued, Gleeson Properties appears to be on course to achieve its budgeted sales and rental income for the current year.

Similarly, Gleeson Homes performed well in the six months to December 2003 and hopes to achieve record results for the financial year as a whole.

Dermot Gleeson executive chairman said: "The Board continues to believe that 2003/04 should see a significant uplift in group profits and lay a strong basis for further profit growth thereafter."