Chairman's Statement

Mentmore Abbey Plc
7 September 2000

                              
                    MENTMORE ABBEY PLC          

                  CHAIRMAN'S AGM STATEMENT


I  am  pleased to be able to report to shareholders  that
the  first  quarter  of  the  current  year  has  seen  a
continuation  of  the favourable trends  we  reported  in
July.

Abbey  Storage has continued to identify and develop  new
sites.  The centre in Stanmore, North London,  opened  at
the  end  of  July,  a 20,000 square  feet  extension  at
Battersea  was  completed and the newly acquired  British
Self-Storage   business  is  performing  ahead   of   our
expectations.

We have continued to add serviced business space and this
area continues to perform in line with plans.

Iron Mountain Europe, our records management business has
begun to see the benefits of last year's investments.

We remain optimistic.


Mentmore Abbey plc,  Nick Smith,          020 8946 3159
                     Chairman
Buchanan             Charles Ryland       020 7466 5000
Communications