Acquisition of property

Safeland PLC
16 July 2007

                     Safeland Property Unit Trust/Flexspace

           Acquisition of managed workspace property for of £8.795m.

Safeland Active Management Ltd, trading as Flexspace, announces that the
Safeland Property Unit Trust, the Jersey based unit trust of which it is UK
property manager, has recently exchanged contracts to acquire a managed
workspace property, The Coventry Enterprise Centre, Bilton Industrial Estate,
Humber Avenue, Coventry, for a total consideration of £8.795m. Completion is set
for 26 July 2007.

The acquisition is to be funded by £3.2m cash from existing resources with the
remainder through debt finance from Barclays Capital.

The property is freehold and totals 173,500 sq ft on a site of approx. 9 acres.
The property is currently divided into 130 units, primarily industrial and
workshop units with some office suites. The gross income is in the region of
£815,000 per annum and current occupancy stands at c. 90%.

This acquisition brings the total square footage now under the Flexspace brand
and management to approximately 575,000 sq ft. and with £47m invested to date
the current fund is now effectively fully invested.

As stated previously CBRE have been instructed to raise further equity which
will enable further purchases to be made. It is expected that the company will
be able to make an announcement as to the outcome of this shortly.

The property was purchased from Industrial Property Investment Fund, part of
Legal & General. DTZ acted for Safeland while King Sturge acted for Industrial
Property Investment Fund.

More information on Flexspace is available at www.flexspace.co.uk

For further information please contact:

Safeland plc                                     Parkgreen Communications Ltd
Larry Lipman, Managing Director                  Paul McManus
Tel: [phone]                               Tel: [phone]
                                                 Mob: [phone]
www.safeland.co.uk                               [e-mail]




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