Letting of 230 Blackfriars Road Complete

CLS Holdings PLC
24 November 1999



CLS HOLDINGS PLC ('CLS')
COMPLETES LETTING OF 230 BLACKFRIARS ROAD

The board of CLS is pleased to announce that 230 Blackfriars Road, London SE1,
which the company has fully refurbished over the past year, is now fully let.

Following the letting of 2,715 sq. m. (29,228 sq. ft.) to American Express for
a 10 year period at £248 per sq. m. (£23 per sq. ft.) announced on 20th April
1999, the remainder of the space has now been let to the Medical Defence Union
Ltd.

The Medical Defence Union Ltd has agreed to take the remaining 2,973 sq. m.
(32,000 sq. ft.) at a rent of £280 per sq. m. (£26 per sq. ft.) on a 15 year
lease without breaks. There will be a 9 month rent free period. 


Executive Chairman, Sten Mortstedt, said:

'We have created a first class investment. The building has been
comprehensively refurbished and is now let on long leases to two high quality
tenants. The aggregate annual rent roll including car parking is now over £1.5
million per annum.'


For further information, please contact:

Sten Mortstedt, Executive Chairman, CLS Holding plc          0171 582 7766
Glyn Hirsch, Chief Executive, CLS Holdings plc               0171 582 7766
Adam Reynolds/Rebecca Shand, Basham & Co                     0171 242 8005