Re Contract

PRESS RELEASE
0700, 5th February 2003

FLETCHER KING SIGNS UP ADVERTISING GIANT
AND
SAVES CLIENTS OVER £7M RATES IN 2002

Fletcher King, the London based chartered surveyors and property asset
managers, announces that it has been engaged by an international
advertising agency to appeal the current £3m plus rating assessment on
its Central London headquarters.

The announcement follows news that in 2002 Fletcher King achieved rates
savings in excess of £7m on behalf of its clients, who include Avis,
Scania, Computacenter, Standard Bank and R S Components.

Commenting, Bob Dickman, Head of Professional Services at Fletcher King
said:

"Many companies can make substantial savings on their growing rates
bills if they take the trouble to engage specialists such as ourselves
to appeal their rating assessments. Our extensive and in depth knowledge
of rating legislation and the market rents upon which rating assessments
are based has enabled us to succeed in our aim of minimising our
client's property overheads."

Companies that want to include the year starting 1st April 2002 in any
successful rebate, only have until 31st March this year to lodge an
appeal."

END

For further information, please call:
Bob Dickman, Fletcher King                         020 7493 8400
Christopher Joll/ Richard Sunderland, MJ2 Ltd      020 7491 7776