Office lettings

Derwent Valley Holdings PLC
04 November 2003



                          DERWENT VALLEY HOLDINGS PLC


               Three further Office Lettings in the City Borders


Derwent Valley Holdings Plc, the Central London property investor, has, through
a subsidiary company, let a further 38,994 ft2 (3,623 m2) of office space at 1
Oliver's Yard, EC2.  Anshen Dyer Associates Limited have leased 18,976 ft2
(1,763 m2),  Skidmore Owings & Merrill Incorporated 13,500 ft2 (1,255 m2) and
CPA Management Systems Limited 6,518 ft2 (605 m2), at a combined rental of over
£932,000 per annum (£24 per ft2).  All lease terms are for at least 10 years,
subject to tenant break options at the end of the fifth year, with incentives
equivalent to between 15 and 18 months rent free.


John Burns, Managing Director of Derwent Valley Holdings, comments:


"Lettings in the current market are difficult to achieve in the City and its
Borders so we are delighted with the progress at this refurbished building.
These three transactions follow on from the recent letting to Sage Publications
Limited to take space let this year at Oliver's Yard to over 64,000 ft2 (5,946
m2), which will produce rental income of over £1.5 million per annum.  In
addition, terms have been agreed on some of the remaining 52,300 ft2 (4,859 m2)
of space in this 187,000 ft2 (17,400 m2) building".



John Burns
020 7659 3000                                                  4th November 2003


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