Update

No Let Up In Activity At Slough Estates International

  * Major 17,000 sq m pre-let to Ernst & Young in Belgium
   
  * First pre-let in Czech Republic
   
Slough Estates International (SEI) maintained the positive momentum of its
trading performance with a raft of new contracts in the UK and in Continental
Europe. These again demonstrate the significant progress it continues to make
in building on its position as Europe's leading provider of flexible business
space.

Ian Coull, Chief Executive commented:

"We are ending 2006 in the same way we started it, delivering a series of
transactions which demonstrate how we actively manage our assets."

Belgium

SEI has reached an agreement with Ernst & Young for a 17,000 sq m built-to-suit
office building at its Pegasus Park office scheme located in Diegem near
Brussels airport. Construction is due to start in March 2007 with delivery
expected in September 2008. This site is located on the park's prime frontage,
between Johnson Controls and DHL's European headquarters. Ernst & Young has
signed a 15-year lease at an annual rent of €2.3m - delivering a yield in line
with SEI's targets for the region.

Czech Republic

Slough Estates has signed its first pre-let in the Czech Republic, a 4,800 sq m
warehouse which will act as a new hub for Kuehne & Nagel, the leading global
logistics company. The unit is part of Slough's new warehousing scheme under
construction at Tulipán Park, Prague. Tulipán Park, Slough's 16 hectare
logistics and light industrial park is located at Hostivice on the western edge
of Prague, near Prague's primary airport and ringroad. In addition to the
building currently under construction, Slough Estates International can deliver
a further 45,000 sq m of warehouse space on the park. The current phase of
development comprises some 15,000 sq m of warehouse space plus 2,000 sq m of
office and ancillary areas and is due for delivery in February 2007.

Kuehne & Nagel chose the site due to a higher building specification in
particular for loading docks and office space plus the expansion possibilities.
Kuehne & Nagel has signed a 52-month lease, at a rent of approximately €269,000
per annum, with a development yield in line with SEI's targets for the region.

France

A leading French distribution group has agreed a pre-let of a headquarters
office and light industrial building of c5,500 sq m to be delivered in April
2007. The building forms part of SEI's 36,000 sq m `Carré des Aviateurs'
business park development located at le Blanc Mesnil to the north of Paris,
close to the A1 motorway and Charles de Gaulle airport, and is the first
pre-leasing agreement in the scheme. This new letting will bring the occupancy
rate on the park for existing buildings and those under construction to in
excess of 92 per cent. The letting is for a term of nine years at a rent of €
460,000 per annum. This pre-letting further demonstrates the strength of the
market for this type of product and establishes a renewed confidence in the
location, as is borne out by the occupational statistics.

Poland

Slough Estates has acquired a 12.4 hectare plot in Komorniki, Poznan for an
initial consideration of €4.2 million. Including the 9.6 hectares which SEI
already owns in Komorniki (50 per cent of which is currently under construction
for Huntleigh Healthcare). This acquisition takes Slough's development pipeline
in Poland to 75 hectares (including those under construction) plus a further 12
hectares under option in Silesia. The Komorniki site benefits from proximity to
the city of Poznan and a nearby motorway junction and offers significant
development potential.

UK

HelioSlough, the joint venture between Helios Properties plc and Slough Estates
International, has secured a forward funding deal of approximately £100m with
CBRE Investors for six speculative distribution properties across the UK
totalling c1,570,000 sq ft (146,000 sq m). These properties are all in prime
locations benefiting from growing demand for these high quality distribution
facilities. Work has already commenced on the units, which will be completed in
2007. The deal includes the 50 acre Sheffield International Railfreight
Terminal (SIRFT), where HelioSlough will start immediately on two sheds
totalling c622,000 sq ft (58,000 sq m).

Slough Estates has acquired a development site in Newbury for £10.1 million
from Highcross. The site provides for the development of up to 4.5 acres where
it is proposed to construct 12 new warehouse/industrial units in sizes ranging
from 1,800 sq.ft. up to 35,000 sq ft. including a trade counter unit of 7,000
sq ft fronting Hambridge Road. The purchase also includes an existing 107,000
sq ft (9,940 sq m) let to General Signal UK Ltd at a passing rent of £500,000
per annum and a smaller building comprising 8,500 sq ft let to Oil Plus Ltd at
£36,000 per annum.

Slough Estates             
Michael Waring                          01753 213 335                          
                                                                               
Maitland                                                                       
Colin Browne/Liz Morley/Peter Ogden     020 7379 5151                          

Notes to editors

Slough Estates plc or 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 at 30 June 2006)

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