Completion of Disposal

For immediate release 2nd August 2007

                SEGRO PLC COMPLETES US$2.9 BILLION DISPOSAL OF                 
                              SLOUGH ESTATES USA                               

SEGRO announces that the disposal of Slough Estates USA Inc. was completed on
1st August 2007. This is further to SEGRO plc's ("SEGRO") announcement of 4
June 2007 regarding the proposed disposal of Slough Estates USA Inc. ("Slough
Estates USA") and the related special dividend and share consolidation. SEGRO
also today confirms the timetable for the payment of that special dividend and
share consolidation.

The remaining timetable of principal events is confirmed as follows:


Record Date for entitlement to the Special      6.00pm on Friday, 17 August 2007
Dividend and for the Share Consolidation                                   
                                                                               
Existing Ordinary Shares marked ex-Special                Monday, 20 August 2007
Dividend                                                                       
                                                                               
New Ordinary Shares admitted to the Official    8.00am on Monday, 20 August 2007
List and Eurolist and commencement of dealings 
in the New Ordinary Shares                                                                
                                                                               
New Ordinary Shares enabled in CREST and CREST            Monday, 20 August 2007
accounts credited with New Ordinary Shares                                     
                                                                               
Payment of the Special Dividend, despatch of           By Friday, 31 August 2007
cheques for fractional entitlements and despatch 
of certificates for New Ordinary Shares in 
Certificated Form                                       


  * The sale of Slough Estates USA is the culmination of the strategic
    repositioning of the Group which began in 2004 and which has produced a
    very focused business model. SEGRO is a specialised investor and developer
    of Flexible Business Space in Europe. The complete exit from life sciences
    real estate in the US will enable SEGRO to concentrate its resources on
    building upon this core strategic position.
   
  * The announced gross consideration of US$2.9 billion effectively represents
    a premium of 26 per cent over the IFRS book value of the property assets as
    at 31 December 2006 and a surplus of 44 per cent over the net assets of
    Slough Estates USA at that date.
   
  * Following this completion and shareholder approvals at its recent
    Extraordinary General Meeting, SEGRO also confirms the return of
    approximately £250 million (equivalent to 53 pence per Existing Ordinary
    Share) to Shareholders by means of a Special Dividend. The remaining
    proceeds of the disposal will be used to temporarily reduce the Continuing
    Group's net indebtedness prior to being re-invested to fund the Continuing
    Group's growth plans in Continental Europe and the UK.
   
  * The Special Dividend will be accompanied by a consolidation of SEGRO's
    ordinary share capital - facilitating comparability of earnings and net
    asset values per share and share prices before and after the payment of the
    Special Dividend.
   
  * SEGRO has a substantial potential development pipeline in Europe and
    significant opportunities for further growth through the acquisition of
    property portfolios and development sites where attractive returns can be
    achieved - particularly in Continental Europe.
   

SEGRO CEO Ian Coull added

"Our former colleagues in SEUSA have now transferred to HCP where we wish them
well.  This also means that Marshall Lees, SEGRO Board director and President,
North America, steps down from the SEGRO plc Board with immediate effect.  
Marshall joined the main Board in 1998 and has been instrumental in the
creation of the significant value that the SEUSA disposal has realised for our
investors.  Our sincere thanks to Marshall and all of his team."

Unless stated otherwise, terms defined in the Circular have the same meaning in
this announcement.

For further information please contact:

SEGRO                     Tel: [phone]      Michael Waring            
                                                                               
Maitland                  Tel: [phone]      Colin Browne / Liz Morley             


This announcement is for information purposes only and does not constitute an
offer or invitation to acquire or dispose of any securities or investment
advice in any jurisdiction.

Overseas shareholders should inform themselves about and observe any applicable
legal or regulatory requirements. If you are in any doubt about your position,
you should consult your professional adviser in the relevant territory.