Disposal of Manor Credit & Acquisitions Update

Mentmore Abbey Plc
10 April 2000

                              
                     MENTMORE ABBEY plc
    DISPOSAL OF NON CORE ACTIVITY AND ACQUISITIONS UPDATE


Mentmore  Abbey plc, the largest space management  group  in
the UK, announces the following transactions:

Disposal of non core activity
The trade and loan book of Manor Credit, the finance company
acquired with Birkby, has been sold to London Scottish  Bank
plc.   The consideration, amounting to £10.0m, will be  used
to  reduce debt pending reinvestment. In the year  ended  31
March 1999 Manor Credit generated operating profits of  £1.1
million.

Acquisitions
BDM,  the  groups  records management  alliance  with  Iron
Mountain Incorporated, has strengthened its position in  the
Spanish    market   with   a   further   two   acquisitions.
Documentalia, a leading medical records service provider  in
Madrid  and four other regions, was acquired on 11  February
2000  for  Peseta 1.1 billion (approximately £4.0  million).
Boston  Data, the largest media service provider  in  Spain,
was  acquired  on  31  March 2000  for  Peseta  270  million
(approximately £1.0 million).

Abbey  Storage, the group s personal storage  business,  has
opened two new sites since the beginning of the year.   This
includes  the first conversion of an existing Imex  site  to
incorporate self-storage.  The business now operates from 21
locations with five new sites under construction.

Imex, the groups serviced work space business, has acquired
a  further 20 sites adding approximately one million sq. ft.
at  a cost of £16.6 million.  This business now operates 155
centres across the UK.


Commenting  on  these  transactions, Nick  Smith,  chairman,
said:

'The  disposal of Manor Credit was contemplated at the  time
of   the   Birkby  acquisition.   Its  activities  are   not
complementary to the rest of the group and the  business  is
best placed with a specialist financing group such as London
Scottish Bank.

The addition of Documentalia and Boston Data to our existing
Datavault commercial records management  business means that
we  now  provide a full range of services in Spain. We  look
forward to strong growth in this market.

In  line  with plan, our personal storage and serviced  work
space  businesses  are adding new sites at  an  accelerating
rate.   It  is pleasing to report the opening of  the  first
self-storage  location in an Imex site; further  conversions
are in progress.'


Contacts: Nick Smith, Chairman
          Clive Drysdale, Group Finance Director
          Mentmore Abbey plc            Tel: [phone]

          Charles Ryland/Richard Oldworth
          Buchanan Communications       Tel: [phone]