Acquisition

Safeland PLC
18 March 2008


18th March 2008


                     Safeland Property Unit Trust/Flexspace

                     Purchase of Business Centre in Crawley

Safeland Active Management Ltd, today announces that the Safeland Property Unit
Trust trading as Flexspace, the Jersey based unit trust of which it is UK
property manager, has recently completed the purchase of Stanley/Kelvin House
and Business Centres in Crawley for £4.94 million from ING Real Estate.

The purchase of the business centres, ideally located on The Manor Royal
Industrial Estate, Crawley, will be funded by £1.35m from cash resources, with
the remainder through debt finance from Barclays Capital. This is the first new
acquisition Flexspace has completed since the expansion of the fund in September
2007 which raised a further £55m of equity.

Net income of over £390,000 per annum will be generated on purchase giving an
initial yield of 7.5%.

The property, which totals 47,500 sq ft, is situated on Kelvin Way on Manor
Royal Industrial Estate in Crawley's premier commercial location just one mile
south of Gatwick Airport. This area is very popular with airport related
businesses and Flexspace's more flexible leasing options should prove very
popular with the local SME market.

The centres are currently divided into 32 separate units providing a range of
office suites, workshops and studios, with varying sizes starting from 400 sq
ft. Flexspace plans to undertake further subdivision works to provide one man
office studios starting from 130 sq ft.

This purchase brings to 11, the number of sites operated under the Flexspace
managed workspace brand. Operational square footage now stands at c750,000 sq ft

Larry Lipman, Managing Director of Safeland said:

'I am very pleased to announce this new purchase as further proof that the
Safeland Active Management fund is taking advantage of the opportunities that
are occurring in this sector.  The substantial investment by Babcock and Brown
and Electra Partners in 2007 has enabled the fund to increase its ability to
acquire property and now with £200m available we are opportunistic in seeking
further acquisitions throughout the coming year.'

Drivers Jonas acted for Safeland Property Unit Trust on the acquisition.

Further information is available at www.flexspace.co.uk

Contacts:

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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