Purchase of own shares

Lok'n Store Group PLC
24 March 2004


Embargoed for 7am on 24 March 2004


24 March 2004



Lok'n Store Group plc ('the Company' or 'the Group')



              Purchase of Own Shares and Directors' Dealings

At the Company's EGM on 5 September 2003, shareholders gave approval for a
buy-back of shares of up to 9,265,848 Ordinary Shares of 1p each ('Ordinary
Shares') pursuant to a tender offer, the cancellation of the share premium
account and its corresponding conversion into a distributable reserve. High
Court approval for cancellation of the share premium account was received on 24
September 2003.

Following approval by shareholders of a special resolution at the AGM on 27
November 2003, the company has an ongoing general authority to make market
purchases of up to 9,265,848 of its ordinary shares (less any shares purchased
pursuant to a tender offer). This authority expires eighteen months after the
date on which the resolution was passed unless renewed, varied or revoked by the
Company in General Meeting.

The Company announces that yesterday it purchased 3,420,549 of its Ordinary
Shares of 1p for cancellation at a price of 112p per Ordinary Share leaving
ongoing authority to make market purchases of up to 5,845,299 of its Ordinary
Shares (subject to any Ordinary Shares purchased pursuant to a tender offer).

Andrew Jacobs, Chairman, whose shareholding in the Company was 19.1%, yesterday
sold 125,000 Ordinary Shares at 112p each, taking his shareholding to 5,314,000
Ordinary Shares, which represents 21.2% of the reduced share capital of the
Company.

Simon Thomas, Chief Executive Officer, whose shareholding in the Company was
8.8%, yesterday sold 62,500 Ordinary Shares at 112p each, taking his
shareholding to 2,437,500 Ordinary Shares, which represents 9.7% of the reduced
share capital of the Company.

The Employee Benefit Trust ('EBT'), whose shareholding in the Company was 3.9%,
yesterday sold 500,000 Ordinary Shares at 112p each, taking its shareholding
to 627,500 Ordinary Shares, which represents 2.5% of the reduced share capital
of the Company.

After the cancellation, the total number of shares in issue will
be 25,048,144 Ordinary Shares.

The Group will continue to use the remainder of this authority as appropriate if
in the best interests of shareholders.


Enquiries:


Lok'nStore Group plc                        020 8247 1861

Andrew Jacobs, Chairman
Ray Davies, Finance Director



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