Disposal

1st August 2006

                    Slough Estates in £109 million disposal                    

Slough Estates International ("SEI") announces it has completed the disposal of
three properties: the Deva Retail Centre, Chester, an estate in South Ruislip,
and a development at Kingswood, Ascot; for a total of £109.2 million. The
disposals are the latest actions carried out as part of SEI's capital recycling
strategy.

SEI has sold the Deva Retail Centre, Chester together with a retail warehouse
and industrial premises at South Ruislip, in a combined transaction to CMG/
Insight for £73.5m. CMG/Insight already owned neighbouring property. Together,
these two assets total 18,437 square metres and the disposals represent an
attractive overall initial yield of 4.22% (4.42% on Chester and 3.75% on
Ruislip) and were sold at £3m above the book value as at 31 December 2005. The
passing rent totalled £3.3m, with a vacant 945 sq m building at the Chester
site.

SEI has also sold Kingswood Ascot to UKCP (Four) Ltd for £35.7 million. Located
on the outskirts of Ascot and fronting the A332, Kingswood is a low-density
office development consisting of three Civic Trust Award winning buildings,
designed by Norman Foster. It is currently rented to Agere Systems Ltd at £2.6m
per annum. This sale of the 9,350 square metre estate reflects an initial yield
of 6.8% reflecting the short term nature of the income stream (current
occupant's lease expires in 2013), the disposal price was closely in line with
book value.

John Heawood, Executive Director responsible for the UK Portfolio, said:

"These transactions continue our active acquisition and disposal programme, as
we recycle mature assets when there is a good opportunity to realise value
created. It also reflects the on-going strategic realignment of SEI's property
portfolio, moving away from out-of-town office facilities and discrete retail
warehousing facilities and building on our position as Europe's leading
providers of flexible business space. These disposals follow further recent
examples of the implementation of this strategy - with the purchase of the
Treforest Industrial Estate, Cardiff and the sale of properties at Centennial
Park, Elstree and Cambridge Research Park, Cambridge"

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Further information:

Slough Estates                           The Maitland Consultancy              
Michael Waring                           Colin Browne                          
01753 213335                             020 73795151                          

Notes to editors

Slough Estates is the leading European provider of flexible business space and
owns business parks in Europe and North America, with four million square
metres of business space and over 1600 customers (as at 31 December 2005).
Slough Estates' properties are in suburban locations in close proximity to the
main business centres, where there is long term demand for business
accommodation to serve these key economic regions. The company's main
activities are currently based around London, Brussels, Paris, Düsseldorf,
Amsterdam, San Francisco and San Diego and 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. www.sloughestates.com

SEI will report its interim results on Wednesday 23rd August.




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