Acquisition

Slough Estates PLC
                  

SLOUGH ESTATES MAINLAND COMPLETES ACQUISITION OF MAJOR DEVELOPMENT SITE NEXT TO
SCHIPHOL

Slough Estates Mainland has completed the acquisition of a majority shareholding
in the 17ha development site known as de Hoek-Noord. Slough Estates and Kuiper
Group owns 60% and 40% of Slough Estates Mainland and have respectively bought
51% and 34% of the De Hoek-Noord site for a total of €16.15M, bought from two
German developers. These German developers THG and Adler, will continue to hold
the remaining 15%. The acquisition follows Slough Estates' entrance into the
Dutch market in June of this year with the purchase of a majority stake in local
business space developer, Mainland BV.

The site at de Hoek-Noord will be developed into a business park with high level
security in mind, a new concept known as 'S Park'. This 'S Park' concept has
been developed following consultation with local stakeholders, in particular the
commune of Haarlemmermeer, and will meet an increasing demand in this market
from companies with a high need for security concerning goods, staff and data.
The development of the 'S Park' on de Hoek-Noord will add to the competitiveness
of Haarlemmermeer and Schiphol Airport against other European airports and
business locations.

Last week, the preliminary development agreement was signed with the commune of
Haarlemmermeer in order to pave the way for a smooth development process from
2008. It is anticipated that the first occupiers will be operating on the park
by 2010. When built out, the 'S Park' will provide a total built area of
approximately 100,000 sq m of business accommodation.

Walter Hens, Slough Estates' Managing Director, Europe said 'This marks the
first major site acquisition for Slough Estates Mainland. Together with our
partners, THG and Adler, and the Commune of Haarlemmermeer, we have developed
the 'S Park' concept to meet growing demand from companies for higher levels of
security.' -ends-

For further information please contact:


Shared Value Ltd
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Andrew Best / Emily Bruning
Tel: [phone] / 5027
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Notes to editors

Slough Estates

www.sloughestates.com

Slough Estates is a leading provider of flexible business space in business
parks in Western Europe and North America, with over 1500 customers occupying
approximately 3m square metres of business space. Slough Estates' properties are
in suburban locations in close proximity to the main business centres, where
there is long term demand for business accommodation to serve these key economic
regions. The company's main activities are currently based around London,
Brussels, Paris, Düsseldorf, Amsterdam, San Francisco and San Diego and the
company continues to develop new business parks with the long term objective of
building shareholder value and enhancing its reputation for quality buildings
offering excellent value to customers. www.sloughestates.com

At its interim results this year Slough Estates highlighted increased
development starts in Europe with 5,509 sq m completed in H1, 64,029 sq m under
construction at the end of the first half of 2005 and with 56,112 sq m of
possible starts in the second half of 2005.