AGM Statement

Workspace Group PLC 30 July 2002 WORKSPACE CHAIRMAN'S AGM STATEMENT Speaking at today's Annual General Meeting, Phillip Rhodes, the Chairman of Workspace Group PLC ('Workspace') made the following statement: ' I am delighted to report that following last year's excellent performance, the current financial year has started well and that the Group's trading is in line with expectations. Despite recent Stock Market uncertainty, the long-term fundamentals for the small and medium sized business ('SMEs') sector particularly in London appears robust. The sector is vibrant and dynamic and has a very broad base. ' Workspace is the leading provider of business accommodation for the SME sector in London and the South East. Ownership of our type of buildings is extremely fragmented giving us the scope to grow the scale of our business substantially. Looking to the next phase of development, we negotiated recently a new £200 million debt facility with Bradford & Bingley. This gives us significant firepower to invest in further properties. We are currently trailing a number of key acquisition opportunities. ' In summary, Workspace's prospects remain excellent. Our portfolio has substantial potential for further growth and the SME market remains sound. We have the funding to acquire more properties that will enhance our leading position in the market. I look forward to updating shareholders on our progress when we announce our financial results for the first quarter in mid August.' -ends- Date: 30 July 2002 For further information: 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: info@workspacegroup.co.uk e-mail: simon.courtenay@city-profile.com web: www.workspacegroup.co.uk This information is provided by RNS The company news service from the London Stock Exchange
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