Disposal

22 February 2007

                    SLOUGH ESTATES SELLS FORMER GIN FACTORY                    

Slough Estates International ("SEI"), a leading provider of flexible business
space, has exchanged on the contract for the sale of Juniper 1 and 2,
Southfields Industrial Estate, Basildon to Catalyst Capital LLP for £30.8
million.

The property comprises two elements. Juniper 1 a former gin factory dating from
the 1980's, which has been reconfigured into 3 warehouses and an office block
totalling some 28,856 m2. Juniper 2 a development of 4 modern industrial
buildings completed in 2003 offering some 11,292 m2 of accommodation. In total
the property provided a rental income of some £2,365,111. The price reflects a
net initial yield of 7.26% (including rental guarantees). *

John Danks, Regional Director at SEI commented: "This site follows the disposal
of Phase 300, Centennial Park and the acquisition of Manasty Road Industrial
Estate, Peterborough in December 2006.

These transactions demonstrate Slough's active strategy of recycling capital in
the UK business."

King Sturge advised SEI and Franc Warwick advised Catalyst Capital LLP.

Note

* The average unexpired lease period on Juniper 1, the larger of the two
properties, is 19 months on an income-weighted basis.

For further information please contact:

Slough Estates                                                                 
Michael Waring                                                                 
Director of Corporate Communications                                           
Tel: [phone]                                                              
                                                                               
Maitland                                                                       
Colin Browne                                                                   
Tel: [phone]                                                             

Slough Estates International (SEI)

The leading European provider of flexible business space, SEI owns business
parks in Europe and North America, with property assets of £5.6bn, more than
four million square metres of business space and more than 1,700 customers. SEI
has an annual rent roll of £289m and a weighted average unexpired lease length
of 11.9 years. Flexible business space is industrial sites or business parks
put to multiple uses such as; manufacturing, light industrial, distribution
(both `small' and `big-box'), research and development, offices and
warehousing. SEI's properties are in suburban locations in close proximity to
main business centres with long-term demand for business accommodation. The
company continues to develop new business parks with the long-term objective of
building shareholder value and enhancing its reputation for quality buildings
offering excellent value to customers. (Figures quoted as at 30 June 2006)

www.sloughestates.com