Acquisition

Lok'n'Store Group PLC
26 February 2001



                             LOK'nSTORE GROUP PLC

                              ACQUIRES NEW SITE

Lok'nStore Group PLC, the AIM listed, self-storage company, is pleased to
announce today the expansion of its network of self-storage centres with the
acquisition of a property in Sunbury on Thames.

The leasehold building is located in a prime location just off the M3
motorway, offering excellent visibility and access and in line with
Lok'nStore's target of acquiring prominently located centres in/near primary
and secondary conurbations. When fully fitted out, the Sunbury on Thames site
will provide approximately 56,000 sq ft of lettable storage space. The centre
is expected to open for business in the early Summer.

In addition, the group is pleased to announce that its Milton Keynes and
Northampton sites, acquired in the first quarter of the financial year, will
commence trading in late February and mid March respectively. The Milton
Keynes centre offers 53,000 sq ft of storage space and the Northampton centre
55,500 sq ft of storage space.

The Sunbury on Thames acquisition takes the group's total number of centres to
16, with 726,000 sq ft of lettable space, an increase of approximately 50%
over the last seven months.



Enquiries:
Lok'nStore          Andrew Jacobs, Chief Executive        T: 020 8547 2288
                    Simon Thomas, Chairman
Biddick Associates  Katie Tzouliadis                      T: 020 7448 1000