McInerney Holdings PLC 19 January 2006 Thursday, 19 January, 2006 MC INERNEY HOLDINGS PLC TRADING UPDATE FOR YEAR ENDED 31/12/05 Ireland, Dublin: McInerney Holdings plc ('McInerney' or 'Group') today released a trading update for the year ending 31st December 2005. The trading highlights record a favourable performance for the year. Preliminary financial results for the Group, in accordance with IFRS, will be published on 23rd February 2006. 2005 Trading highlights: • Total private house completions for the Group (Ireland, UK and Spain) increased by 13% to 1,831 in 2005, compared to 1,614 units at year end 2004. • Entering 2006 total housing deposits on hand (Ireland, UK and Spain) are 895. These comprise 551 in Ireland, 278 in the UK and 66 in Spain. • Private house completions in Ireland were 1,138 in 2005 compared to 1,101 in 2004. • House completions in the UK were 658 in 2005, an increase of almost 32% on the 500 housing units completed in 2004. The Group now operates 38 private housing sites in the North of England. • McInerney Spain completed 35 units in 2005 as compared to 13 units in 2004. • Hillview Securities, the Group's commercial division, recorded an excellent performance in 2005 handing over 15,339 sq m of industrial units as compared to 8,289 sq m in 2004. It is witnessing continued robust demand for industrial units across its UK and Irish commercial sites with a strong level of reservations on hand for 2006. • The Irish contracting business achieved a significant increase in operations in 2005 with 182 housing units being completed as compared to 116 in 2004. Total contracting turnover from housing and commercial contracts rose from €43m to in excess of €50m. Further growth is expected in 2006. Barry O'Connor, Managing Director expressed satisfaction with progress achieved in 2005 stating that the Group was comfortable with market earnings' expectations. "As we enter 2006, our market presence is in key areas of solid demand and our product strategy is well placed. Good demand is being experienced in the Irish and UK housing markets. As we previously indicated, our UK business picked up steadily throughout the second half of the year and unit growth was over 30%. We would expect 2006 to see further operational increases in our UK business as new regions commence output. Our land banks in Ireland and the UK have been augmented in core locations to take best advantage of expected favourable demand," stated Barry O'Connor. ENDS FOR INFORMATION: Siobhan Molloy Tel: +353 1 676 01 68 Weber Shandwick FCC or +353 86 817 50 66 About McInerney Holdings plc McInerney Holdings plc is one of Ireland's leading development companies, with divisions specialising in various aspects of the construction market. McInerney Holdings plc comprises four divisions operating in Ireland, Spain and the United Kingdom. The company is Ireland's largest national homebuilder, and undertakes extensive commercial and leisure projects both in Ireland and abroad. The company is listed on the Dublin and London Stock Exchanges (ISE: MCI.I/LSE: MCI). See www.mcinerney.ie for further information. This announcement has been issued through the Companies Announcement Service of the Irish Stock Exchange This information is provided by RNS The company news service from the London Stock Exchange