Disposal

Mentmore Abbey Plc
11 January 2002

FOR IMMEDIATE RELEASE                                11 JANUARY 2002



                               MENTMORE ABBEY plc

                        DISPOSAL OF NON CORE OPERATIONS





Mentmore Abbey plc ('Mentmore'), the leading space management group in Europe,
announces the disposal of its serviced business space operation in the
Netherlands and the remaining part of the Homewares business based in the UK.



The Dutch serviced business space operation was acquired as part of the Birkby
portfolio. It has two centres that are not core to the group's strategy.  The
centres are located in Tilburg, an area designated for redevelopment, and have
been sold to a development company at a profit of approximately £1.5 million.
Consideration from the sale was £4.2 million (including £2.3 million of debt
assumed by the purchaser).  The two sites generated revenues of £0.3 million
and an operating profit of £0.1 million in the six months ended 31 October
2001.



The remaining part of the Homewares business was sold for cash at book value
of £0.7 million.  In the six months ended 31 October 2001 this business
generated revenues of £1.5 million and an operating loss of £0.1 million.



Commenting on the disposals, Kim Taylor-Smith, Mentmore's Chief Executive
said:



'These disposals represent a tidying up of the group and will enable us to
concentrate on our core activities.  Our serviced business space operation is
now focused solely in the United Kingdom.  The proceeds will be utilised to
partly fund our substantial investment programme in order to deliver improved
services to our customers and drive profit growth in the coming years.'





Contacts:

Mentmore Abbey plc                              020 8946 3159

Kim Taylor-Smith, Chief Executive

Clive Drysdale, Finance Director


Buchanan Communications                         020 7466 5000

Charles Ryland