Sale of Toronto Estates

Slough Estates PLC
22 October 2001


        Slough Estates completes sale of its Toronto industrial estates

Slough Estates has completed the sale of its industrial estates in Toronto to
purchasers Great-West Lifeco Inc and Summit REIT.  The gross proceeds of £145
million (@ C$2.26 : £1)  compare with a book valuation of £142 million.
Disposal expenses, the costs of transferring the Toronto office with some 40
staff to the purchasers and other account settlements should amount to
approximately £9 million.

The early termination and mark to market of Canadian dollar debt should cost
approximately £3 million.

Nine industrial estates comprising 5.6 million sq.ft. of predominantly
industrial space have been sold, the largest being the 1.7 million sq.ft.
Malton estate built in the 1960's/1970's.  More recent developments of the
1990's included the estates at Mississauga, Goreway and Oakville which
totalled 2.1 million sq.ft.

Although Slough's Toronto properties, under local management, have performed
well compared with the Canadian market over the last ten years, the total
returns did not match those realised elsewhere in Slough's portfolio.

For further information:

Derek Wilson, Chief Executive
Slough Estates plc 
01753 537171           

Andrew Best / Emily Bruning
Shared Value Limited
020 7321 5022 / 020 7321 5027