REIT Conversion

Workspace Group PLC
04 January 2007




            
        WORKSPACE COMPLETES CONVERSION TO A REAL ESTATE INVESTMENT TRUST
                                      STATUS


Workspace Group PLC ('Workspace') the leading provider of flexible business
accommodation to small and medium sized enterprises in London and the South
East, confirms that it has converted to a Real Estate Investment Trust (' UK
-REIT') .

At an Extraordinary General Meeting held on 15 December 2006 Workspace
shareholders approved amendments to the Company's articles of association, to
enable the Company to change its status. The Company then applied to HM Customs
and Revenue to become a UK-REIT from 1 January 2007.

Harry Platt, Chief Executive of Workspace commented,

' I am delighted to report that we have now converted to a Real Estate
Investment Trust. We are confident that this will improve our appeal among
investors who want to invest in our specialist niche in the property sector. The
Group's focus and strategy in developing its business will be unaffected by this
change. However the tax efficient nature of a UK-REIT will enable the Board to
enhance the dividend payment in the future.

' The Group continues to make very good progress. Our market place remains
robust and we have an experienced team to drive the business forward. The future
for Workspace is excellent.'


                                     -ends-


Date: 4 January 2007

For further information:

Workspace Group PLC                             cityPROFILE
Harry Platt, Chief Executive                    Simon Courtenay
Mark Taylor, Finance Director                   020-7448-3244
020-7247-7614

web: www.workspacegroup.co.uk

                                                 
                                                     


                      This information is provided by RNS
            The company news service from the London Stock Exchange