Mucklow(A.& J.)Group PLC
13 November 2007


A & J MUCKLOW GROUP PLC

13 NOVEMBER 2007


INTERIM MANAGEMENT STATEMENT


A & J Mucklow Group plc, the Midlands based property REIT, are pleased to
publish their first Interim Management Statement, covering the period from 1
July 2007 to date, as required by the UK Listing Authority's Disclosure and
Transparency Rules.


Rupert Mucklow, Chairman commented:


We are continuing to make good progress and remain on target for another
satisfactory year. Despite all the uncertainties in the debt, equity and
property markets, occupancy levels have been maintained at around 93% and we are
experiencing some good enquiries for our vacant space and new developments.


We do not value our property portfolio on a quarterly basis. However, it is
evident that property values are falling, due to weaker Investor sentiment,
although there still appears to be healthy demand for modern, well let
properties like ours, with few quality investments coming to the market.


We acquired a modern industrial investment at the beginning of the financial
year, for £3.7m. The property is located in Leamington Spa, adjacent to our
existing holding and comprises a 48,000 sq ft building, producing a rent of
£0.25m per annum.  No other investment or land acquisitions were made during the
period.  The only property disposal has been a 2.3 acre residential site, at
Mellings Farm,Wigan, which was sold for £2.6m.  Both transactions were reported,
in my year end statement.


We are currently developing sites in Dudley (41,000 sq ft - industrial);
Wednesbury (40,000 sq ft - industrial); Worcester (28,000 sq ft - offices) and
Coleshill (32,000 sq ft - trade park) and starting to generate some good
interest from occupiers. When completed and fully let, the new developments
should add £1.1m per annum to the rent roll.


All of our commercial development sites are being actively marketed for pre-lets
and I am pleased to report three large transactions that have been signed up in
the last two weeks. Terms have been agreed on the pre-letting of two industrial
units at Yorks Park, Dudley. The buildings will have a combined area of 75,000
sq ft and provide rental income of £0.38m per annum. The agreements are subject
to planning, which we hope to obtain in the next two months and start
development early in the New Year.


We have also agreed terms, subject to planning, to develop a 128,500 sq ft
bespoke building on our site at Torrington Avenue, Coventry. The property will
be let on a 25 year lease on completion of the development at a rent in excess
of £1m pa. The site was acquired in November 2006 and a planning application
will be submitted later this year.


Demolition works are also well advanced at Signal Point, Tyseley, Birmingham,
where we have received outline planning consent for a 360,000 sq ft industrial
park.  We have recently submitted a detailed planning application for the first
two units, totalling 90,000 sq ft, which we hope to start next year.


The Group's financial position remains very strong, with net debt of £24m and
current gearing at around 9%. This is likely to increase during the year, due to
our development programme. It may also rise further if we are able to acquire
some quality investment properties, on attractive yields. Other than stated,
there has been no significant change in the Group's financial position during
the period under review.


Providing there is no further downturn in the UK economy, we remain upbeat about
prospects for the year.


For further information contact:


Rupert Mucklow

Chairman

0121 504 2121



David Wooldridge

Finance Director

0121 504 2108



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