Acquisition

Lok'n Store Group PLC
28 September 2007

28th September 2007





                      Lok'nStore Group Plc ('Lok'nStore')



                                  Acquisition



The board of Lok'nStore Group Plc, ('Lok'nStore' or the 'Company') the fast
growing AIM listed self-storage company, is delighted to announce the
acquisition of a new site in North Harbour, Portsmouth.



The freehold site extends to almost two acres and was purchased for £4.3 million
funded from existing facilities. The land will be used to build a new
self-storage centre of around 60,000 square feet taking the total Lok'nStore
portfolio to 1.1 million square feet. The store will front the A27 to the north
of Portsmouth, is opposite a busy retail area and is prominent to the M27.



Commenting on this acquisition Andrew Jacobs Chief Executive of Lok'nStore said:



'With our recently expanded Fareham store and the new central Portsmouth store,
this additional site will position Lok'nStore in highly visible and easily
accessible locations across the Portsmouth area which is developing rapidly.



'We are actively searching for new sites to continue our growth, and are
committed to our stated expansion plans with £20 million already committed to
our pipeline. The current market circumstances may provide a useful buying
opportunity for strong operating businesses like Lok'nStore as property
investors retreat from the market'



Preliminary results for the year to 31 July 2007 will be announced on 29 October
2007.



                                    - Ends -




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
Billy Clegg/Edward Westropp, Financial Dynamics                    020 7269 7157
Rupert Krefting, Paul Gray, Investec                               020 7597 5000





Notes to editors



Lok'nStore is the 4th largest self-storage operator in the UK and one of three
listed companies in the sector.



Lok'nStore has 1.1 million square foot of lettable space.



Lok'nStore currently holds 60% of its space freehold and 40% leasehold.



The success of Lok'nStore's first purpose built self storage centre in
Farnborough, with its high visibility, immediately adjacent to junction 4 of the
M3 motorway demonstrates Lok'nStore's evolving business model of larger, purpose
built, and prominent, freehold stores.



The Company's growth strategy involves the development of purpose built, highly
visible stores, and the continuing improvement and enlargement of its existing
stores.  Lok'nStore's new £40m banking facility combined with the £12.5m
proceeds from the sale of its Kingston and Woking sites gives significant
firepower for future expansion.



Lok'nStore was founded 12 years ago by Andrew Jacobs.



The shares were admitted to the OFEX market in 1997 at 38p and moved up to the
AIM market in 2000.




                      This information is provided by RNS
            The company news service from the London Stock Exchange