New Leases

19 June 2006

             SLOUGH SIGNS NEW LEASES AT HEYWOOD DISTRIBUTION PARK,             

                              GREATER MANCHESTER                               

Slough Estates International (SEI) has secured three new leases, totalling
16,233 m² (175,000 ft²) at Heywood Distribution Park in Greater Manchester.

Bibby Distribution Ltd, the UK's leading independent distribution company, has
taken a five-year lease on a 12,226 m² (131,600 ft²) unit. Alaris, the
Scottish-based Internet white goods company, which is doubling the size of its
operation at the Park has signed a 10-year lease on a 2,887 m² (31,075 ft²)
unit. Durston (UK) Ltd, the national bathroom distributor, has taken a six-year
lease on a 1,120 m² (12,054 ft²) unit, which will become the firm's first North
West regional distribution centre. Total annual rents for the three leases
combined amount to £680,000 per annum.

Kevin O'Connor, regional director of Slough Estates International, said:

"The expansion of established occupiers and the arrival of a new company from
outside the area shows Heywood's continued appeal and the buoyancy of the North
West market. Our strategy to provide units catering for small, medium and large
occupiers is clearly paying off."

                                    -ends-                                     

For further information please contact:

Slough Estates plc                            Maitland                         
                                                                               
Michael Waring                                Colin Browne/Peter Ogden         
                                                                               
Tel: [phone]                             Tel: [phone]               

Slough Estates International

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

Heywood Distribution Park

In July 2005, Slough Estates Plc purchased the holding entity owning Heywood
Distribution Park from a subsidiary of the Moorfield Group. At 77.28 hectares
(191 acres), it is the largest single owned distribution park in the North
West. There is in excess of 213,675 m² (2.6 million ft²) of high quality
industrial accommodation at the Park. The Park is located eight miles north of
Manchester City Centre at junction three of the M66 and has excellent access
for motorway and rail networks as well as Manchester Airport. Existing
occupiers include: Next, Argos, Kuehne & Nagel, J.D. Sports, Paul Hartmann, Two
Way International Logistics and Bibby Distribution.

www.heywooddistributionpark.com