Transactions

Slough Estates PLC
10 January 2006


             Busy New Year for Slough Estates In Continental Europe

Slough Estates International ('SEI' or 'the Company') has today announced a
number of transactions in France, Germany and Belgium.

France
SEI has entered into a 50:50 joint venture agreement with Capital & Continental
to develop the 26,500m(2) Portes de France office scheme in St Denis,
overlooking the Stade de France, Paris. The highly specified scheme will provide
two interconnected office buildings either side of the A86 motorway. The project
will be visible from both the motorway and the Stade de France and will benefit
from a particularly high profile in the market, with the Rugby World Cup taking
place in France in late 2007.

SEI has also signed a new 5/9 year lease with high fashion retailer 'Paul and
Joe' on 1670m(2) at its new light industrial park in Le Blanc Mesnil to the
north of Paris.

Germany
Over the Christmas and New Year period SEI agreed to sell a light industrial
property in Hamburg to Halverton for a gross disposal price of €12.3 million,
resulting in a 2005 profit of €2.5m. The property - part of the Group's trading
portfolio in Germany - provides a total of 12,368m(2) of light industrial
accommodation and is let to 19 tenants.

Belgium
In a 50:50 joint venture with KBC, SEI has agreed to acquire two light
industrial properties in the Brussels periphery with strong medium and long-term
redevelopment potential for a gross purchase price of €5.25 million, reflecting
a net initial yield of 8.4%. The properties provide a total of 5,640m(2) of
office and light industrial accommodation and are let to nine tenants. They
currently produce €441,000 per annum.

SEI's Managing Director in Europe, Walter Hens, said:
'This is a busy beginning to the year for Slough Estates cementing our position
as one of the leading providers of flexible business space in Continental
Europe. We continue to expand our footprint in key markets, including
participating in flagship developments such as the Portes de France office
scheme in St Denis, which complements our existing development pipeline in the
suburban Paris office markets. The recent acquisition of Grontmij Real Estate
International also demonstrates our commitment to the high growth markets of
developing Europe. We look forward to further expansion in 2006.'

Elsewhere in Continental Europe, SEI's main interests are in Brussels,
Dusseldorf, Paris and Amsterdam and, through the recent acquisition from
Grontmij, operations in the Czech Republic, Hungary and Poland.

During 2005 SEI acquired a major site close to Schiphol airport which provides a
100,000m2 development opportunity. More recently in December last year, SEI
acquired a sale and leaseback portfolio in Germany of €163 million from Karstadt
Quelle AG and acquired the Central European development arm from Grontmij bv.

Further information:
Slough Estates                             The Maitland Consultancy
Michael Waring                             Colin Browne
07775 788 628                              020 73795151


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

At its interim results this year Slough Estates highlighted increased
development starts in Europe with 5,509 sq m completed in H1, 64,029 sq m under
construction at the end of the first half of 2005 and with 56,112 sq m of
possible starts in the second half of 2005.



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