Fund increased

Safeland PLC
10 September 2007

For immediate release

10 September 2007





                                  SAFELAND PLC


        Further capital raised for Safeland Active Management Unit Trust


                        Ability to grow Fund to c. £200m



Safeland plc ('Safeland'), the fund management, property trading and investment
company, announces that Safeland Active Management ('the Safeland Fund'), the
Jersey unit trust of which it is UK property manager, has raised further equity
with Babcock & Brown and certain of its managed funds (B&B) agreeing to invest
an initial sum of up to £50 million. At the same time funds managed by Electra
Partners LLP (the 'Electra Funds') have agreed to increase their investment in
the Safeland Fund from £15 million to £20 million.


Barclays Bank plc has also agreed to increase its facilities to the Safeland
Fund from £35 million to £170 million. This increases the Safeland Fund's
leveraged investment capability to circa £200 million.


The Safeland Fund is a Jersey property unit trust which invests in income
producing UK property investments, where value can be added by active
management.  It was established in October 2006 with a £15 million investment
from The Electra Funds together with an investment by Safeland of £1 million.
Safeland is responsible for identifying investment opportunities and for
managing the properties which are acquired.


To date, £47 million has already been invested in properties, all of which trade
under the brand name 'Flexspace' offering space, typically to small businesses,
on short term renewable licences for use as offices, studios, workshops and
other light industrial workspace. C. B. Richard Ellis Financial Services Ltd
together with Property Financial Solutions Limited advised on the capital
raising.


Larry Lipman, Managing Director of Safeland said:


'The expansion of the Safeland Active Management fund will increase our ability
to acquire property with lower capital cost to the business.  The substantial
investment by Babcock and Brown and the increased investment commitment by
Electra Partners is a strong endorsement of their confidence in Safeland's
ability to identify and manage investment properties and we believe that we are
now well positioned to take advantage of the opportunities that will occur in
this exciting and expanding sector.'


'This not only gives us increased revenue through our management fee and the
potential to earn more through profit share, but also firmly establishes our
fund management business which should give us a more predictable revenue stream
going forward.'


For further information please contact:

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




Further details


Safeland has agreed (through one of its wholly owned subsidiaries) to manage the
property portfolio of the Safeland Fund for an initial period of 5 years
(although that may be extended by a further period of 2 years)


When the Safeland Fund was established, it was a requirement of the Electra
Funds that Safeland should appoint three appropriately experienced key
executives.  The Management Team now comprises Larry Lipman, Paul Davis and Neil
Corderey.  It was a further requirement of the Electra Funds that members of the
management team be personally incentivised by allocating 25% of Safeland's
Carried Interest to them. Of that total, 9% has been allocated to Larry Lipman
and 8% to each of Paul Davis and Neil Corderey.  These arrangements will remain
in place after the investment by the B&B.  Approval will be required to replace
any of these executives should they leave for any reason, when they may lose
their right to the share of the Carried Interest allocated to them.



Note to editors:


The Safeland Fund sees the continuation of the relationship with Electra
Partners that was started with the launch of a focused managed workspace fund
with Bizspace plc, a company that was demerged from Safeland in May 2000 and
sold to Highcross in July 2006 for £82m. At the date of sale, the Bizspace
portfolio had grown over 60% since inception and comprised the management of 64
properties.



About Electra Partners LLP


Electra Partners is an independent private equity fund management group with
£800m under management.  Electra Partners has accumulated considerable expertise
and built a strong track record in private equity investments, including
property, for which it maintains a specialist management team.  Its principal
investment client is Electra Private Equity PLC whose assets it, or its
predecessor Electra Partners Limited, has managed for over 15 years, as well as
a number of other funds during that time.



About Babcock & Brown:


Babcock & Brown is a global investment and advisory firm with longstanding
capabilities in structured finance and the creation, syndication and management
of asset and cash flow-based investments.


Babcock & Brown was founded in 1977 and is listed on the Australian Stock
Exchange. Babcock & Brown operates from 29 offices across Australia, North
America, Europe, Asia, United Arab Emirates and Africa and has in excess of 1250
employees worldwide. Babcock & Brown has five operating divisions including real
estate, infrastructure and project finance, operating leasing, structured
finance and corporate finance. The company has established a funds management
platform across the operating divisions that has resulted in the creation of a
number of focused investment vehicles in areas including real estate, renewable
energy and infrastructure.



For further information about Babcock & Brown please see:

www.babcockbrown.com





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