Result of Equity Issue

Lok'n Store Group PLC
12 July 2002

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


Lok'nStore announces that the Open Offer to shareholders closed at 3.00 p.m. on
12 July 2002.


Of the 6,850,390 new Ordinary Shares issued pursuant to the Placing and Open
Offer, 3,475,597 new Ordinary Shares (50.7 per cent.), representing the
entitlements of Andrew Jacobs and connected parties, Simon Thomas, Steven
Hourston, Christopher Stevens, Richard Holmes, the directors' pension fund, and
certain other investors, were placed firm. Of the balance of 3,374,793 new
Ordinary Shares, which were placed subject to recall under the Open Offer, valid
applications in respect of 1,356,681 (40.2 per cent.) have been received from
Qualifying Shareholders, and the remainder will be taken up by placees.


The Open Offer remains conditional upon the passing of the resolutions to be
proposed at the extraordinary general meeting of the Company to be held at 10.00
a.m. on 15 July 2002 and upon admission of the new Ordinary Shares to trading on
the London Stock Exchange.


The 6,850,390 new Ordinary Shares are expected to be admitted to trading on AIM
at 8.00 a.m. on 17 July 2002.


Enquiries:


Lok'nStore Group PLC 020 8547 2288

Andrew Jacobs

Simon Thomas

Chris Stevens


WestLB Panmure Limited 020 7020 4000

Dominic Morley




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