Result of Equity Issue

Big Yellow Group PLC
29 May 2001

Big Yellow Group PLC

29 May 2001

Results of Placing and Open Offer of 19,297,076 New Ordinary Shares at 122
pence per share

Following the announcement of a Placing and Open Offer on 4 May 2001, the
Board of Big Yellow Group is pleased to announce that Qualifying Shareholders
have validly applied for 4,018,655 New Ordinary Shares under the Open Offer,
which represents approximately 69 per cent of shares available under the Open
Offer excluding certain shareholders entitlements for which irrevocable
undertakings were received not to take up their entitlements (detailed below).


Certain Directors, their connected persons and certain other shareholders had
irrevocably undertaken not to take up their entitlement to 13,489,536 million
shares, representing approximately 70 per cent of the New Ordinary Shares
available under the Open Offer. These shares were placed firm by Cazenove.


1,788,885 New Ordinary Shares not applied for by Qualifying Shareholders under
the Open Offer will be taken up by institutional investors under the Placing.


It is expected that dealings in the New Ordinary Shares will commence on 1
June 2001.



Enquiries:


Nicholas Vetch, Chief Executive, Big Yellow Group PLC - 01276 470190


Richard Cotton and Dermot McKechnie, Cazenove & Co. Ltd - 0207 588 2828


Cazenove & Co. Ltd who is regulated by the Securities and Futures Authority,
is acting for Big Yellow Group plc and no one else in connection with the
Placing and Open Offer and will not be responsible to anyone other than Big
Yellow Group PLC for providing the protections afforded to their customer, nor
for providing advice in relation to the Placing and Open Offer.