New ten year lease agreement

First Property Group PLC
13 March 2008




Date:                  13 March 2008

On behalf of:          First Property Group plc 
                       ('First Property' or the 'Company')

For Immediate Release



First Property Group plc
Citibank signs new ten year lease agreement


First Property Group plc (AIM: FPO), the AIM-listed property fund management
group, today announces that Citibank International plc, a wholly owned
subsidiary of Citigroup, has signed a new lease agreement on improved terms at
the Oxford Tower office block ('Oxford Tower') in the Central Business District
of Warsaw, Poland.

First Property acquired Oxford Tower in August 2007 on behalf of the fund it
manages for the Universities Superannuation Scheme ('USS').

The new lease agreement, which is for a period of ten years, is in respect of
8,277 sq m of office space together with 59 car parking spaces and 329 sq m of
storage facilities. The total office area of Oxford Tower owned by the fund is
some 20,000 sq m. The new lease therefore underpins the income earned by the
fund from this asset, as well as enhancing its value.

Commenting, Ben Habib, Chief Executive, First Property said:

'Oxford Tower is a striking office block in a prime central location in Warsaw
and is part of our growing portfolio of assets in Poland. We are delighted that
Citibank has extended its lease of this space.

'Our year end is 31 March 2008 and we look forward to releasing a trading update
on the Group's activities shortly thereafter.'


- Ends -


Enquiries to:


Ben Habib, Chief Executive                       www.fprop.com
First Property Group plc                         Tel: [phone]


Chris Hardie, Corporate Finance Director         [e-mail]
Arden Partners                                   Tel: [phone]


Emma Kane / Adam Leviton                         [e-mail]
Redleaf Communications Ltd                       Tel: [phone]



Notes to Editors:

  • First Property Group plc was established in March 2000 by Chief Executive
    Ben Habib, to provide a number of property services which include property
    fund management, property transaction underwriting and trading, and
    facilities management.

  • The Company listed its shares on the Alternative Investment Market (AIM)
    in December 2000 with a view to fuelling further growth.

  • First Property Group plc is an integrated property services group which
    consists of the following core services:

    -  Property fund management - established in August 2002 and provided by a
       wholly owned subsidiary, First Property Asset Management Ltd (FPAM),
       now with operations in the UK, Central and Eastern Europe;

   -  Property transaction underwriting and trading - established in August 2001
      also provided by FPAM, now with operations in the UK, Central and Eastern
      Europe;

   -  Facilities Management - acquired 60% of First Property Services Ltd in
      February 2006, with operations in the UK and clients including: Credit 
      Suisse, Canary Wharf, the BBC, Coutts Bank and Exxon Mobil.


  • Further information about the company and its products can be found at:
    www.fprop.com




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