Acquisition

Workspace Group PLC
11 March 2002



                            WORKSPACE BUILDS ON GLE

                   CO-OPERATION AGREEMENT WITH KINGSTON DEAL

Workspace Group PLC ('Workspace') today announces the purchase of Kingsmill
Business Park, Kingston-upon-Thames from Greater London Enterprise Properties
('GLE Properties'). Workspace is the leading provider of flexible business
accommodation to small and medium size enterprises ('SMEs') in London and the
South East. In partnership with The Royal Borough of Kingston-upon-Thames, a
1.6-acre site has been developed by GLE Properties to provide 42,000 sq. ft.
(3,900 sq. m) of small business accommodation. Workspace contracted to buy the
scheme in early 2001 prior to the commencement of building works on the site.
The building was completed in February 2002.

Kingsmill Business Park is the third deal to be contracted under the
co-operation agreement between Workspace and GLE Properties to acquire, develop
and manage flexible accommodation for SMEs in London. The scheme comprises 20
two-storey B1 units between 950 and 4,000 sq. ft. and is being marketed to small
businesses in the area requiring accommodation to let on flexible leasing terms.
The scheme has cost Workspace £4.2 million in cash. Workspace expects to achieve
£15 per sq. ft on new lettings, and already has one unit let and two under offer
at this level.

Harry Platt, Chief Executive of Workspace commenting on the acquisition said,

' The scheme at Kingston extends our portfolio in London into an area where
previously we have not been represented. It is a good example of how a
brownfield site can be utilized to help stimulate the growth of new and emerging
small businesses. With the regeneration and development expertise of GLE
Properties, and its links with London's Local Authorities, our co-operation
agreement with GLE Properties gives us an excellent and unrivalled platform. '

' Through increasing the scale of our business in London and the South East, we
continue to be focused on delivering excellent returns for our shareholders. '

Date: 11th March 2002

For further information contact:
Workspace Group PLC                     City Profile Group
Harry Platt, Chief Executive            Simon Courtenay
Mark Taylor Finance Director            Ed Senior
020 7247 7614                           020 7448 3244
e-mail: [e-mail]       e-mail: [e-mail]
Web: www.workspacegroup.co.uk




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