Circ re. Preference Shares

Slough Estates PLC
22 March 2006


Slough Estates plc (the 'Company')

22 March 2006


Circular notifying shareholders of the redemption and final right of conversion
of the Company's cumulative redeemable convertible preference shares of 25p each
('Convertible Preference Shares') (the 'Circular').



The Company has today sent the Circular to holders of its Convertible Preference
Shares so as to notify such holders of their final opportunity to convert their
Convertible Preference Shares into ordinary shares of 25p each upon giving
notice to that effect to the Company on or before 20 April 2006. Any Convertible
Preference Shares which are not so converted will automatically be redeemed and
cancelled on 21 April 2006 for a redemption price of £1.0117534 per Convertible
Preference Share.



Application will be made to the Financial Services Authority (the 'FSA') for the
cancellation of the listing of the Convertible Preference Shares on the Official
List of the FSA and to the London Stock Exchange for the cancellation of the
admission to trading of the Convertible Preference Shares on the London Stock
Exchange's market for listed securities. It is anticipated that cancellation of
listing and admission to trading will take effect from 21 April 2006, being not
less than 20 business days following the date of this announcement.



Copies of the Circular are available for inspection at the registered office of
the Company at 234 Bath Road, Slough, Berkshire, SL1 4EE.





Copies of the Circular have been submitted for public inspection at the Document
Viewing Facility of the UK Listing Authority, The Financial Services Authority,
25 The North Colonnade, Canary Wharf, London E14 5HS.






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