AGM Statement

CLS Holdings PLC
15 May 2002



15 May 2002
Immediate release


                    CLS HOLDINGS PLC ('CLS' or the 'Group')

                              AGM HELD 14 MAY 2002

At the AGM of CLS held yesterday Mr Sten Mortstedt said:

'I am pleased to confirm that the performance of the Group during the first
quarter of 2002 is in line with our forecasts.

We have successfully concluded a number of rent reviews during the first quarter
and our pre-letting of Solna Business Park, Stockholm, continues to show steady
progress.

In January of this year we announced the acquisition of a portfolio of property
in Lovgardet, Gothenburg and a property adjoining Solna Business Park,
Stockholm the cost of which was £33.0 million.

I am pleased to announce today that we have agreed the purchase of a portfolio
of eleven office properties in the Paris area at a cost of £30 million. Further
details of these purchases will be released upon completion.

We continue to search selectively for sound property investments in our three
markets of the UK, Sweden and France and we are confident of reinforcing the
strong financial position with which we entered the year.'





                                     -ends-



For further information, please contact:


Sten Mortstedt, Executive Chairman,
CLS Holdings plc                                       Tel: [phone]


Tom Thomson, Vice Chairman & Acting Chief Executive, 
CLS Holdings plc                                       Tel: [phone]


Takki Sulaiman / Ben Simons
Hansard Communications                                 Tel: [phone]









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