Acquisition

Slough Estates PLC
27 January 2006


27th January 2006

HELIOSLOUGH BUYS LYMEDALE CROSS BUSINESS PARK, STOKE

HelioSlough, the joint venture between Slough Estates plc and Helios Properties
plc, has purchased Lymedale Cross Business Park, Stoke, Staffordshire from RREEF
(formally Deutsche Property Asset Management) & JV partner Barlows plc, for
£17.7 million.

The 42.7 acre (17.28 hectare) site comprises 500,000 sq ft (46,450 sq m) of
predominantly industrial space, producing an annual rental income of over
£840,000. Detailed planning consent has been granted for a further 537,000 sq ft
(49,887 sq m), which will include a new 435,000 sq ft (40,411 sq m) Regional
Distribution Centre ('RDC') on 21.6 acres (8.7 hectares) of the site, with
access via a new link road.

The deal also enables an immediate pre-let of 100,000 sq ft (9,290 sq m) of new
and existing warehouse/office space to Spode Porcelin & Fine China Company
('Spode'), adding circa £450,000 to the annual rental income.

Andrew Gulliford, Director, Corporate Acquisitions for Slough Estates said:
'This is a tremendous acquisition for HelioSlough, offering existing income
along with immediate development opportunities. The location has proved very
popular for retail distribution with adjacent developments including New Look,
Asda and TK Maxx, and there is considerable occupier interest for new RDC's in
this location.'

The site is located one mile north of Newcastle-under-Lyme town centre, adjacent
to the A34 dual carriageway giving excellent road links to the A500, A50 and M6
motorway at Junctions 15 and 16.

HelioSlough plans to start the speculative development of the RDC within the
next six months.

King Sturge advised HelioSlough on the purchase and has been retained as letting
agent. Deutche Property Asset Management & Barlows were represented by Lamont
and FPD Savills. Spode were represented by Bache Creharne.

                                     -ends-


For more information, please contact:

For Slough Estates plc                                   Tel [phone]
Michael Waring  
                                         
Colin Browne/Liz Morley/Peter Ogden (Maitland)           Tel [phone]
For HelioSlough

Mike Hughes                                              Tel: [phone]
Ian Purvis, Porterfield PR                               Tel: [phone]


Notes to editors:
Slough Estates is a leading provider of flexible business space in business
parks in Western Europe and North America, with over 1500 customers occupying
approximately 3m square metres of business space. Slough Estates' properties are
in suburban locations in close proximity to the main business centres, where
there is long term demand for business accommodation to serve these key economic
regions. The company's main activities are currently based around London,
Brussels, Paris, Dusseldorf, Amsterdam, San Francisco and San Diego and the
company continues to develop new business parks with the long term objective of
building shareholder value and enhancing its reputation for quality buildings
offering excellent value to customers. www.sloughestates.com



                      This information is provided by RNS
            The company news service from the London Stock Exchange