Acquisition of site

Lok'n Store Group PLC
22 August 2002



                              LOK'NSTORE GROUP PLC

                        ('Lok'nStore' or 'the Company')

                    ACQUIRES NEW SELF-STORAGE SITE IN LUTON

The Board of Lok'nStore, the AIM listed self-storage company, is delighted to
announce that the Company has acquired a new site in Luton, Bedfordshire.

The new site is a freehold property, with 33,000 sq ft of net lettable space and
is scheduled to open in mid-October 2002. It is the first investment since the
Company announced its planned expansion programme at the time of the placing and
open offer in June 2002, which raised £10.0 million net of expenses.

The Luton acquisition brings the Company's total number of storage centres to
17.

Simon Thomas, Chief Executive of Lok'nStore, commented:

'The acquisition of the property in Luton demonstrates the Company's ability to
swiftly invest funds in new sites that meet our stringent acquisition criteria,
open them quickly and so maximise our internal rate of return.'

Enquiries:
Lok'nStore Group PLC     Simon Thomas, Chief Executive       Tel: [phone]
                         Steven Hourston, Managing Director

Biddicks                     Katie Tzouliadis                Tel: [phone]




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