Re Planning Permission

Lok'n Store Group PLC
13 December 2004

13th December 2004

                              Lok'nStore Group plc

                          Planning Permission Granted

Lok'nStore Group plc, the fast growing AIM listed self-storage company, is
pleased to report that planning permission has been granted for high density
residential development at the site of the Company's current Kingston operation.
The permission is for two 6-8 storey buildings containing 78 private apartments,
16 key worker (shared equity) and 30 social units (43 one bedroom, 75 two
bedroom and 6 three bedroom), and a new medical centre of approximately 7,000
square feet. The planning permission is subject to the signing of the S106
agreement.

The Kingston site was purchased in 1996 for £905,000. It has been operational as
one of the Companies self-storage facilities for 8 years. In the last full year,
the Kingston operation turned over £407,373, making EBITDA of £221,000. The book
value of this site is currently £1,175,000.

The Board is considering the next steps with regard to a potential sale.

Andrew Jacobs, CEO of Lok'nStore Group said:

'The Board of Lok'nStore is delighted to report this major step forward in the
maximisation of the value of the Company's assets. The enhancement of the value
of this property further strengthens our balance sheet and its realisation will
provide increased firepower to continue to accelerate the growth of our
self-storage operation, which remains our core objective.'

Ends

For further information:

Andrew Jacobs, Chief Executive, Lok'nStore Group plc          020 8547 2288
Ray Davies, Finance Director, Lok'nStore Group plc
Jonathon Brill/Billy Clegg, Financial Dynamics                020 7269 7157
Rupert Krefting, Paul Gray, Investec Securities               020 7597 5197



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