Re Joint Venture

Safeland PLC
3 July 2001

Safeland Plc enters into European joint venture

Safeland plc (Safeland) announces that it has today entered into a joint
venture arrangement with Daniel and Dalia Kay, Giulio Dilonardo and Antonella
Ceschi (together 'KDC') to operate a self-storage business in Europe
('Espazio'). Espazio s.r.l has been incorporated as the Italian operating
subsidiary of the joint venture for this purpose. Safeland has agreed to
subscribe for 51% of the issued ordinary share capital of Espazio at a cost of
Euro400,000 including related shareholder loans. The balance of the issued
share capital of Espazio will be held by KDC.

Safeland has also agreed in principle to make loan and/or guarantee facilities
available to Espazio up to a ceiling of Euro5,000,000. The timing and terms of
the draw-down of such facilities will be determined as and when any facility
is required by Espazio, and agreed by Safeland.

Catherine McEwan, former Managing Director of Safestore Plc, has re-joined
Safeland for this project and together with Safeland Directors, Larry Lipman
and Paul Davis will join KDC to form the board of directors of Espazio. The
new board intend to recruit a team of personnel to run the day-to-day affairs
of Espazio.