Re: Letting

Derwent Valley Holdings PLC
11 July 2006

11 July 2006

                Derwent Valley Holdings plc ("Derwent Valley")


DERWENT VALLEY LETTING AT THE JOHNSON BUILDING, HATTON GARDEN, EC1

Derwent Valley London Limited, a subsidiary of Derwent Valley Holdings Plc 
("Derwent Valley"), has let 50,400 sq ft (4,680 sq m) at its 150,000 sq ft
(13,900 sq m) The Johnson Building, Hatton Garden, EC1 to Grey Advertising
Limited (" Grey").   Grey has entered into a 15 year commitment at a rental of
£1,780,000 per annum.  There is a 16 month rent free period and an option to
break at the end of the 10th year.   Grey will occupy the fifth and sixth
floors, part of the fourth and additional space on the first, ground and lower
ground floors, at an average rent of £35.32 psf.  The premium space in the
building was let at £39.50 psf.  The Johnson Building is Derwent Valley's most
recent development project and provides high quality office space around an
impressive central atrium.

John Burns, Managing Director of Derwent Valley, commented:

"We are extremely pleased to have attracted a tenant of the calibre and profile
of Grey to The Johnson Building.   Johnson was designed to provide flexible
space for multi occupancy and we are currently in negotiations with a number of
other potential occupiers for the remaining space.   This transaction follows
our recent pre letting of Telstar, Paddington and is a further positive
indication of the strong demand within the Central London office market."

For further information please contact:

Derwent Valley Holdings plc
Tel: [phone]
John Burns

Financial Dynamics
Tel: [phone]
Stephanie Highett / Dido Laurimore



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