Acquisition

Mentmore Abbey Plc
24 January 2001



For Immediate Release
                     24 January 2001





Mentmore Abbey plc



Acquisition of Synex Network Services Ltd



Mentmore Abbey plc (Mentmore Abbey), the leading space management group in
Europe, with personal storage, serviced business space and records management
operations, announces the acquisition of Synex Network Services ('Synex') for
a consideration of £515,000.



Synex is a privately owned UK telecommunications company with revenues of £
700,000 per annum. The consideration of £515,000 will be satisfied by shares
in Mentmore Abbey and cash, and is subject to an additional deferred payment
of £100,000 dependent on future revenues.



The acquisition will accelerate Mentmore Abbey's already announced plans to
provide telecoms services to its 7000 service business space customers.  Once
telecoms have been installed other services including data provision,
application service provision, messaging, and many others will be provided.
Telecoms will complement other services already offered by Mentmore Abbey,
such as, electricity, gas and secretarial support. The telecoms services will
be sold through Mentmore Abbey's existing infrastructure.













Contacts:


Mentmore Abbey plc,                                     020 8946 3159
Nick Smith, Chairman
Clive Drysdale, Finance director
Kim Taylor-Smith, Chief executive

Buchanan Communications                                 020 7466 5000
Charles Ryland/Catherine Miles