STG 22.5M OFFICES SALE

Grainger Trust PLC
19 August 2005



FOR IMMEDIATE RELEASE
19th August 2005


                  GRAINGER SELLS LANDMARK PLACE FOR £22.5m


Grainger Trust plc ('Grainger'), the UK's largest quoted residential property
investment and trading company, today announces that it has completed the sale
of Landmark Place, Slough to GE Commercial Finance Real Estate for £22.5m cash.
This reflects a surplus of approximately £2m over the last balance sheet
valuation.

Developed in 2003, Landmark Place comprises 75,000 sq ft (6,967 sq m) of Grade A
offices and a leisure club let to LA Fitness. Slough Borough Council occupies
18,000 sq ft (1,672 sq m) of space on the ground floor, with the remaining
57,000 sq ft (5,295 sq m) of space available to let.

The building currently generates rental income of £138,000 pa which rises to
£563,000 a year following the expiry of rent free periods.

Rupert Dickinson, Chief Executive of Grainger, said: 'This transaction completes
our commitment to sell our principal commercial assets and focus activity on the
residential sector.'

                                      Ends
Contacts:
Rupert Dickinson, Chief Executive,Grainger Trust.          Tel: [phone]
Andrew Cunningham, Deputy Chief Executive
& Finance Director, Grainger Trust.                        Tel: [phone]
Baron Phillips, Baron Phillips Associates.                 Tel: [phone]



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