Disposal

Helical Bar PLC
19 August 2003



19 August 2003





                        Helical Bar plc ('Helical Bar')



           HELICAL BAR CONTINUES OFFICE DISINVESTMENT PROGRAMME WITH

              £33.25 MILLION DISPOSAL OF THREE OFFICE INVESTMENTS







Helical Bar has today sold three office investments - the Rotunda Complex in
Camden, London NW1, 71 Kingsway, London WC2 and part of the Waterside Business
Park in Fleet.  Total consideration was £33.25 million.



  • The Rotunda Complex comprises 51,000 sq.ft. in five buildings let to 12
    tenants and producing £1.02 million per annum with three outstanding rent
    reviews and 5,000 sq.ft. currently vacant.



  • 71 Kingsway comprises 31,000 sq.ft. let to seven tenants and producing
    £0.63 million per annum with one outstanding review and 11,000 sq.ft.
    vacant.



  • Invicta, Caddis and Cahill Houses in Waterside Park, Fleet comprise 37,000
     sq.ft. let to two tenants producing £0.84 million per annum.  Helical has
    two other interests at Waterside Park - a 56,000 sq.ft. office development
    funded with Aberdeen Property Investors and 54,000 sq.ft. of mainly
    industrial units which are being retained.



The sale takes Helical's disinvestment programme from London and South East
offices to £225 million since the start of 2002, representing just under two
thirds of its exposure to this sector.



The purchaser is Ancient Mariner Properties Limited, a subsidiary of Scarborough
Property Company plc.





For further information, please contact:



Helical Bar

020 7629 0113

Michael Brown



Financial Dynamics

020 7831 3113

Stephanie Highett






                      This information is provided by RNS
            The company news service from the London Stock Exchange