Re: Letting

Derwent London PLC
08 January 2008

                                                                       

8 January 2008



               Derwent London plc ('Derwent London' / 'Company')



                 DERWENT LONDON SECURES FIRST LETTINGS AT QUBE

               - OFFICE LETTING SECURED AT RECORD FITZROVIA RENT-



Derwent London is pleased to announce that it has secured its first lettings at
Qube, its recently completed office and retail development at 90 Whitfield
Street, London W1.



Advertising company, Aegis Media Ltd, a subsidiary of Aegis Group plc, has
leased the second floor (18,837 sq ft/ 1,750 sq m) for a 15 year term, with five
yearly rent reviews, at £1,130,220 per annum (£60 per sq ft/£646 per sq m). This
sets a record rent for Fitzrovia. The tenant has been granted a 15 month rent
free period.



In addition, sushi outlet, Itsu Ltd, has leased a ground-floor retail unit in
the building of 1,283 sq ft (119 sq m) on a 15 year term, with five yearly rent
reviews, at £116,000 per annum. The tenant has been granted a six month rent
free period.



Qube comprises 100,000 sq ft (9,290 sq m) of Grade A office accommodation
arranged over five floors and 8,300 sq ft (771 sq m) of retail accommodation in
six units fronting Tottenham Court Road.



John Burns, Chief Executive of Derwent London, commented:



'Qube has brought a new, high quality, design-led building to Fitzrovia, one of
London's fastest improving business locations where Derwent London owns in
excess of 1 million sq ft of property. We are delighted to have secured Aegis as
our first office tenant, at a rent which is not only above the valuation level
last June (of £57.50 per sq ft), but also sets a new high for the area. The
letting of this exceptional grade A space endorses the demand in this location.
We are in discussions with a number of parties for the remainder of the space.



'Additionally, we are pleased that Itsu, one of London's new wave food
operators, has taken one of the ground floor units.  This will animate the
building's ground floor and bring new life to the restaurant offer in this part
of Tottenham Court Road.'



                                    - Ends -



For further information please contact:

Derwent London                                Financial Dynamics
John Burns                                    Stephanie Highett / Dido Laurimore
Tel: [phone]                      Tel: [phone]




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