Town Centre Securities, a Leeds-based property company, is one of the companies interested in making a counter bid for Ewart, the Belfast property company, it has been confirmed by Ewart. Following the unwanted offer from Dunloe House, Ewart announced that it had been approached by other third parties. Two of these have now been named following press reports. The Belfast Telegraph named a consortium headed by Mr John McGuckian, chairman of UTV, and The Irish Times named Town Centre Securities.

Ewart will release its defence document this morning. It will confirm that the £21.1 million sterling (£25 million) offer does not adequately reflect its true value and recommends shareholders to reject it.

Ewart has already published its interim figures to December 31st, 1997, which increased its net assets per share from 66p sterling to 81p, or well above Dunloe's cash offer of 67p. Dunloe has an alternative share offer - 18 Dunloe shares for every five Ewart shares, valuing Ewart shares at 90p (76p sterling) - and loan stock of 70p sterling.