Disposal

Mentmore Abbey Plc
21 May 2001

SALE OF ENTIRE INTEREST IN WORKSPACE GROUP PLC

Mentmore Abbey plc, the leading space management group in Europe, is pleased
to announce that it has today sold its entire interest of 20% in Workspace
Group PLC ('Workspace') in an underwritten cash placing.  The net proceeds
(after the deduction of costs) amount to approximately £29.2 million and will
initially be used to reduce group debt.

The group's investment was carried at £20.2 million and in the year ended 30
April 2001 generated dividend income of £0.7 million.

Mentmore Abbey continues to take advantage of the attractive opportunities for
growth in the markets in which it operates and the increased cash resources
will enable it to support its investment plans.  The Board is confident that
demand for service based space solutions will continue to grow and the group
is well positioned to take advantage of this trend.

Commenting on the disposal Nick Smith, Chairman, said:

'This disposal is consistent with, and part of, the strategic plans already
outlined to accelerate investment in our successful personal storage and
serviced business space operations.  Investment in these strong businesses
will provide a better return to shareholders.'

For further information:

Mentmore Abbey:                         020 8946 3159
Nick Smith, Chairman
Kim Taylor-Smith, Chief Executive
Clive Drysdale, Finance Director

Bridgewell Corporate Finance:           020 7626 3322
Ian Dighe
Greg Aldridge

Dresdner Kleinwort Wasserstein          020 7623 8000
Charles Batten

Buchanan Communications:                020 7466 5000
Charles Ryland