Notice of EGM

Big Yellow Group PLC
28 March 2003

Big Yellow Group plc

Authority to repurchase further Ordinary Shares in the Company

28 March 2003

Subsequent to the authority granted at the extraordinary general meeting on 8
August 2002, Big Yellow Group plc (the "Company") has purchased and cancelled
16,382,050 ordinary shares in the Company, representing approximately 14.1% of
the Company's issued share capital as at 8 August 2002. The Company now intends
to seek authority from its shareholders to purchase and cancel up to 14,900,152
ordinary shares, representing just below 15% of the current issued share capital
of the Company (the "Authority"). A circular will be sent to shareholders
detailing the proposal and convening the necessary extraordinary general meeting


The directors note that the exercise of the Authority in full may lead to two
shareholders whom the Takeover Panel regard as acting in concert holding shares
which carry 30% or more of the voting rights of the Company. Big Yellow Holdings
Limited (an indirect wholly owned subsidiary of Prudential Financial Inc.) and
PGA Big Yellow Limited (a wholly owned subsidiary of a fund managed by a
subsidiary of Prudential Financial Inc.), hold in aggregate approximately 28.3%
of the Company's current issued share capital (the "Concert Party"). If the
Authority is exercised in full, the maximum shareholding of the Concert Party
would be approximately 33.3%. Therefore, in order to allow the Company to be
able to continue to purchase its own shares in the market, an appropriate
whitewash resolution will also be proposed at the extraordinary general meeting
in accordance with the City Code on Takeovers and Mergers. This resolution will
ask independent shareholders to waive any possible future obligation of such
persons to make a general offer for the Company under Rule 9 of the Takeover
Code as a result of the exercise of the Authority.


Further details relating to the Authority, and the basis upon which it may be
utilised and consequences arising, are described in the shareholder circular
which will be posted to shareholders today. The extraordinary general meeting is
to take place on 24 April 2003.


Contacts:

Nicholas Vetch, Chief Executive

James Gibson, Chief Operating Officer

Telephone [phone]


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