Disposal

03 July 2008

            SEGRO ANNOUNCES EUR60M SALE OF WARSAW OFFICE DEVELOPMENT             

                           Acquired by Commerz Real                            

SEGRO plc, the leading provider of flexible business space in Europe, has
agreed and completed the sale of Tulipan House, Warsaw, to Commerz Real for EUR59.7m.

The transaction reflects an initial yield of 5.9 per cent, and encompasses
17,898 sq m (192,652 sq ft) of "A" class suburban office space.

In December 2005, SEGRO acquired the site as part of its EUR20m acquisition of
the Central European property development arm of the company Grontmij. Given
the location of the site - in one of the prime Warsaw office areas - the
development of a high quality office building represented the best opportunity
to maximise value. Construction was completed in June 2008, by which time
Tulipan House was already 80% leased - today it is 90% leased.

Located within the Mokotow district, the heart of the main decentralised office
market in Warsaw, the office building is currently occupied by both
international tenants and leading Polish companies including Ernst & Young;
Aster; Huawei; Legrand; TP Emitel (Polish Telecom); Kodak; ACP Pharma; Guest
Tek and A2.

Commerz Real acquired the building as part of their Hausinvest global fund.

Inès Reinmann, SEGRO's Chief Operating Officer, Continental Europe, said

"Following the development and letting successes for SEGRO in Central Europe
over the last two to three years, this marks our first major recycling of
capital in the region. This Warsaw site had always been seen as a trading
opportunity; with the strength of the local investment market and the high
level of lettings achieved before completion, our decision to crystalise the
value which has been created was a natural one. This transaction again
demonstrates the commitment and quality of the in-house expertise which SEGRO
has in Central Europe."

SEGRO was advised by Jones Lang Lasalle and Clifford Chance.


                                   - ENDS -                                    


For further information please contact:

For SEGRO Investors/Analysts and Corporate Media Contacts                      
                                                                               
SEGRO                     Tel: [phone]      Michael Waring            
                          Tel: [phone]                                
Maitland                  Tel: + 44 207 379 5151     Colin Browne / Liz Morley 



About SEGRO

SEGRO is the leading provider of Flexible Business Space in Europe.
Headquartered in the UK, SEGRO is listed on the London Stock Exchange and on
Euronext in Paris. The company is a UK Real Estate Investment Trust ("REIT")
with operations in ten countries (it completed the exit from its US business in
August 2007), serving a diversified customer base of over 1,600 customers
operating in a wide range of sectors, representing both small and large
businesses, from start ups to global corporations. With property assets of £5.2
billion (including trading properties and development assets) and around 4.7.
million sq m of business space, SEGRO has an annual rental income in excess of
£249 million. www.segro.com