Statement re SALE OF QUAIL WEST

Slough Estates PLC
                  

4th May 2005

Slough Estates completes sale of Quail West

Slough Estates Plc, a leading provider of flexible business space, today
announces that it has completed the sale of Quail West, the leisure complex in
Naples, Florida to Ginn-LA Quail West, Ltd. LLLP for a net £32 million,
receivable in instalments over four years. The first payment of £9 million has
been received.

The net book value of Quail West at the end of 2004 was £7.5 million after
deducting the provision against future costs, which was written down in 2003 in
reaction to the poor sales that were achieved in the previous twelve months.

Ian Coull, Chief Executive of Slough Estates commented: 'The market for high-end
leisure properties improved considerably in 2004 after a slow couple of years.
Our success in achieving a price considerably over the written-down value was as
a result of being patient in finding the right moment to exit this investment.'

Slough Estates is a leading provider of flexible business space in business
parks in Western Europe and North America, with over 1500 customers occupying
2,996,967 square metres of business space, with a total value of £3.9 billion.
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, 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

For further information contact:


Slough Estates             Shared Value Limited
Ian Coull                  Andrew Best / Emily Bruning
Tel: [phone]          Tel: [phone] / 5027