Acquisition(s)

15 January 2007

  SLOUGH ESTATES' WEST LONDON EXPANSION CONTINUES WITH ACQUISITION OF ANOTHER  
                               INDUSTRIAL ESTATE                               

Slough Estates International (SEI) has acquired Sunbury International Business
Centre (SIBC), a multi-let business and industrial park in Sunbury, South West
London, from Foreign & Colonial for £27.4 million representing an initial yield
of 6.7%.

The property is located immediately adjacent to the M3 at junction 1, within
5.5 miles of Heathrow Airport. The estate comprises industrial and office
properties let to 14 tenants and extending to c15,600 sqm.

The latest purchase in Sunbury adds to SEI's "theLHR.com" (www.thelhr.com)
portfolio located in the Heathrow Airport area which now comprises 17 estates
in 11 locations. The SIBC is located within the Sunbury International Park, an
established commercial district and the main employment area of Spelthorne
District Council.

This is a new market for SEI and the acquisition provides SEI with strong
growth opportunities through the potential for further acquisitions in
neighbouring estates, better management, and also by creating value through the
refurbishing and re-letting of vacant office. There is also potential to
generate higher value with alternative uses.

Phil Redding, Regional Director, West London said:

"The acquisition caps a significant year of growth for SEI in the west London
region, achieved through selective acquisitions, a significant programme of new
development and asset management activities. The acquisition plays to SEI's
proactive asset management, customer focus and development-led approach. This
provides a mix of secure income and also opportunities to add value through
using the company's leasing, marketing and refurbishment skills and taking an
active management approach to its portfolio."

Colliers CRE and DTZ acted for Slough Estates International.

For further information please contact:

Slough Estates                                Maitland                              
                                                                               
Michael Waring                                Colin Brown/Peter Ogden   
Director of Corporate Communications                                          
                                                                               
Tel: [phone]                             Tel: [phone]                                                        



Notes to editors

Slough Estates International (SEI)

The leading European provider of flexible business space, SEI owns business
parks in Europe and North America, with property assets of £5.6bn, more than
four million square metres of business space and more than 1,700 customers. SEI
has an annual rent roll of £289m and a weighted average unexpired lease length
of 11.9 years. Flexible business space is industrial sites or business parks
put to multiple uses such as; manufacturing, light industrial, distribution
(both `small' and `big-box'), research and development, offices and
warehousing. SEI's properties are in suburban locations in close proximity to
main business centres with long-term demand for business accommodation. 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.

(Figures quoted as per financial results to 30 June 2006)

www.sloughestates.com

TheLHR.com

Slough Estates' West London team manages two distinct portfolios of business
space at Heathrow and along the A40, between them comprising 353,032 sq m of
space. In 2005, the portfolios were rebranded "The LHR.com" to give customers a
clear, one-stop property service in each location.

  * TheLHR.com includes 241,548 sq m of business space in 11 locations circling
    Heathrow Airport. The portfolio is currently undergoing substantial
    redevelopment, delivering further high-quality floor space to meet the
    needs of airport-related businesses.
   
  * TheA40.net draws together 111,484 sq m of space along the A40, one of west
    London's major arteries, in eight locations between Uxbridge and Acton. The
    mix of industrial buildings is home to a wide cross-section of businesses,
    many of them serving the capital.
   
www.thelhr.com