SEGRO Agree EUR160m French Sale & Leaseback...

08:00 AM GMT 15 November 2007

              SEGRO AGREE €160m FRENCH SALE & LEASEBACK WITH DHL               

SEGRO, a leading provider of Flexible Business Space in Europe, has agreed the
purchase of a portfolio comprising 26 logistics buildings across France via a
sale and leaseback with DHL. The total purchase costs are €159.8m and the
portfolio will provide a total annual income of €11.2m representing an
attractive net initial yield of 7.0% and offering both immediate and longer
term development potential as we build on our growing relationship with DHL.
This purchase reflects SEGRO's strategy of selectively purchasing sites with
development potential located at key hub points on Europe's freight and
logistics corridors.

90% of the portfolio, by value, is concentrated in the key economic clusters
SEGRO has earmarked for expansion in France. 60% is in the Paris region, 10% in
Lyon, 12% in Marseille and over 5% in Lille - with the remainder located in
Toulouse, Bordeaux, Nantes, Orléans and Strasbourg.

The portfolio totals a built area of c210,000 m² on 70ha of land and comprises
distribution and logistics centres used by the DHL Supply Chain and small
cross-dock facilities used by DHL Express. All properties will be subject to
new, nine year leases with DHL, 20 of them with 6 year break options and 6 of
them with 3 year break options

9ha of land has been identified as having immediate development potential and
it is estimated that a further 10,000m² of built area can be added in these
locations. This includes a site at Aulnay, close to CDG airport and adjacent to
Garonor, with a major frontage onto the A1, it has significant development
potential.

Laurent Horbette, General Manager France, said "Following our conversion to a
SIIC early in 2007, SEGRO's operations in France have been growing; we have
been increasing our rent roll and expanding our geographic presence. This
transaction is another important step in those expansion plans. In addition
this move will consolidate our presence in Lyon, following our entry into that
market earlier this year with the acquisition of the Longbow portfolio.
Similarly this transaction increases our presence in Marseille, provides us
with an entry into the economically strong Lille market and also provides
development opportunities in the medium term."

Walter Hens, Executive Director, Continental Europe said "This is our fourth
major European acquisition in 2007 following on from those in Frankfurt, Milan
and Lyon. It clearly shows that SEGRO is making good progress with its plans
for growth in Europe. We have been very successful at `corporate partnering'
with major occupiers and have made this a cornerstone of our expansion
strategy. We look forward to working with DHL, whom we already work with
closely in the UK, Belgium, Germany and the Netherlands and believe that this
deal will act as a catalyst for future co-operation between our two groups."

For further information please contact:

SEGRO                     Tel: [phone]      Michael Waring            
Maitland                  Tel: [phone]      Colin Browne/Peter Ogden  


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 investment property
assets of £5.1 billion (including trading properties and development assets)
and around 3.9 million sq m of business space, SEGRO has an annual rental
income in excess of £200 million. www.segro.com