Acquisition and disposal

Lok'n Store Group PLC
04 June 2007


Lok'nStore Group PLC

4th June 2007


                       Lok'nStore Group plc ('Lok'nStore')

      Acquisition of site in Southampton and disposal of Woking operation

Acquisition of new site in Southampton

Following the recent announcement of the new Harlow store, Lok'nStore, the fast 
growing AIM listed self-storage Company, is delighted to announce that it has 
acquired the freehold of a new site on Third Avenue, Millbrook, Southampton.

The site of 2.16 acres fronts the main access road to Southampton city centre
and will provide around 100,000 sq ft of self-storage space. It will replace the
existing Southampton Lok'nStore, which is located a few hundred metres away and
currently provides up to 84,000 sq ft in a freehold property.


The new build site will capitalise on the prominent main roadside position using
the strong Lok'nStore branding similar in design to the successful new
Farnborough store. The increased prominence and modern look of the building will
allow the business to leverage off the existing business which is trading well,
increasing both the volume of space rented and the rates achieved on those
rentals.

The total investment in the new store will be up to £8 million.

The acquisition is a key part of the Company's strategy to actively manage its
existing portfolio to maximise its value, as well as increasing the number of
stores and lettable square footage.

Sale of Woking Operation

Lok'nStore is also pleased to announce the sale of its freehold operation in
Woking for £2.4 million payable in cash in July. This is the level at which it
was valued by Cushman and Wakefield in July 2006. A private investor has
purchased the business.

The Woking store, which provided 19,000 lettable sq ft, was the smallest in
Lok'nStore's portfolio and while trading extremely well, offered limited
opportunity to further increase the value of the business.

The Woking property originally cost £444,000 and has a book value of £602,000.

The proceeds of this transaction will be reinvested in Lok'nStore's ongoing
programme of acquiring and building new larger stores
Andrew Jacobs, Chief Executive of Lok'nStore Group said:

'We are delighted to have made this site acquisition in Southampton to improve 
on our already strong trading position in the city. This follows the recent 
doubling in size of the Fareham store and the new freehold store in Portsmouth. 
These transactions demonstrate, how Lok'nStore can continue to generate extra 
value in our established portfolio of self-storage centres.

'We are pleased with the sale of our Woking store, which underlines our core 
strategy of actively managing our existing portfolio to maximise the growth of
asset values for our shareholders. The proceeds will be reinvested in our new 
store acquisition programme.

'Opportunities for larger new build Lok'nStore sites provide a model for our
future development with their increased prominence, attractive modern designs
and higher margins.'



For further information:

Andrew Jacobs, Chief Executive, Lok'nStore Group plc              01252 521 010
Ray Davies, Finance Director, Lok'nStore Group plc                01252 521 010
Jonathon Brill/Billy Clegg/Edward Westropp, Financial Dynamics    020 7269 7157
Rupert Krefting, Paul Gray, Investec                              020 7597 5000




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