First Major Letting at Solna Business Park

CLS Holdings PLC
25 November 1999


CLS HOLDINGS PLC ('CLS')COMPLETES FIRST MAJOR LETTING AT
SOLNA BUSINESS PARK, STOCKHOLM

The board of CLS is pleased to announce its first major letting at Solna
Business Park since its acquisition in June.

The Swedish Post Office has agreed to rent 7,300 sq. m. (78,579 sq. ft.) of
office space at a rent of SEK 1,100 per sq. m. and 1,625 sq. m. (17,492 sq.
ft.) of warehouse space at a rent of SEK 450 per sq. m. This provides a total
rent of SEK 9,703,250 per annum on a new 5 year lease with an option to
extend. The space will be refurbished by CLS prior to the rent commencement in
September 2000.

In addition, the Post Office has agreed to lease a further 2,300 sq. m.
(24,758 sq. ft.) of new office space to be constructed at roof level at a rent
of SEK 1,750 per sq. m. 
This new accommodation forms part of a planning application to be made shortly
and it is proposed that all of the existing buildings will be extended,
creating in total up to 17,000 sq. m. (182,992 sq. ft.) of new office
accommodation in addition to the current net area of 112,900 sq. m. (1.215
million sq. ft.).


Executive Chairman, Sten Mortstedt said:

'This is an excellent letting to a major tenant. The rent level confirms our
projections at the time of acquisition and in particular the rent level
achieved for the new space will significantly increase the value of our
investment.'


For further information, please contact:

Sten Mortstedt, Executive Chairman, CLS Holdings plc      0171 582 7766
Glyn Hirsch, Chief Executive, CLS Holdings plc            0171 582 7766
Adam Reynolds/Rebecca Shand, Basham & Co                  0171 242 8005