Re Agreement

CLS Holdings PLC
16 October 2002

16th October 2002
For immediate release

                            CLS HOLDINGS PLC ('CLS')
                        ANNOUNCES A SUBSTANTIAL PRE-LETTING
                             AT SOLNA BUSINESS PARK


The Board of CLS is pleased to announce that it has agreed one of Sweden's
largest lettings this year.  Coop Sverige AB, one of Sweden's major retailers,
has signed up to a total of 14,350 sq m (154,150 sq ft) of office accommodation
in Frasaren 11 at Solna Business Park, Stockholm.


The letting is for a 10 year term commencing on the 1st January 2004 at an
initial rent of SEK 1,550 per sq m (£9.95 per sq ft)  increasing by SEK 100 per
sq m (£0.64 per sq ft) annually to SEK 1,950 per sq m (£12.29 per sq ft) on 1st
October 2007. The rent is exclusive of service charge costs and will be subject
to annual indexation.  In addition to the office accommodation Coop is taking
200 car parking spaces at a total rent of SEK 1,560,000 (£107,586).


The aggregate headline rental income equates to SEK 29,542,500 (£2,037,414) per
annum.


Coop's annual turnover in the year to December 2001 was SEK 26,300,000
(£1,814,000).  The move to Solna Business Park will involve the headquarters
relocating from central Stockholm where they have been in occupation of the same
premises since 1932.


This pre-letting means that Frasaren 11, which is currently being fully
refurbished and extended, is now 80% let and there are currently a number of
parties interested in the remaining space.


Executive Chairman, Sten Mortstedt, said:


'We are very pleased that Coop has chosen to relocate its head office to Solna
Business Park.  Coop has indicated that its decision to move to Solna Business
Park was based on a variety of factors such as the high quality of
accommodation, the flexibility offered by CLS and also the fact that the
property is one of the largest office buildings in Sweden to have received a
Government P-certificate, and is therefore a 'Green Property', certified to be
environmentally friendly.  In addition, Solna Business Park will provide
excellent communications and amenities including comprehensive facility
management, a conference centre, various shops, a state of the art gym and a
business hotel.


Frasaren 11, which comprises 35,875 sq m (385,477 sq ft) of net lettable area,
is now almost fully let.  This highlights that our concept for Solna Business
Park continues to be well received in the market.


As a major retailer with a substantial trading reputation, Coop's head quarter's
relocation to Solna may well act as a driver towards the further growth of Solna
Business Park as other businesses decide to follow Coop.  As a result we are
confident of the future letting prospects at Solna Business Park and we firmly
believe in Solna Business Park's slogan: Healthy buildings mean healthy people.'



                                     -ends-


For further information, please contact:


Sten Mortstedt, Executive Chairman

Dan Baverstam, Chief Financial Officer

CLS Holdings plc, Tel. [phone]

www.clsholdings.com

www.solnabusinesspark.se



Benjamin Simons

Hansard Communications, Tel. [phone]

www.hansardcommunications.com


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