Acquisition of Cambridge Research Park Site

Slough Estates PLC 5 April 2000 SLOUGH ESTATES ACQUIRES CAMBRIDGE RESEARCH PARK Slough Estates plc is acquiring the Cambridge Research Park development site immediately north of Cambridge. The park has a gross area of 112 acres including a wildlife refuge. It has planning consent for the development of 570,000 sq.ft. of office and R&D facilities, including a 73,000 sq.ft. office pre-let to Cambridge Cable, which is also being acquired. In addition the site has outline consent for a hotel. To develop the whole site could cost Slough Estates a total of approximately £125 million which represents a significant commitment to one of the fastest growing regions in the country. Cambridge has become Britain's pre-eminent research and development centre with biotechnology, IT and communications being the driving force. Derek Wilson, Chief Executive said: 'This new investment is consistent with Slough's strategy of concentrating its development and investment resources in locations which are attractive to modern growth industries, such as the Thames Valley where the Group has over £1.6 billion invested and California where Slough is the leading developer of research facilities for the rapidly growing bio-science industry. The purchase of Cambridge Research Park is an exciting opportunity to participate in the region's growth.' For further information: Derek Wilson, Chief Executive Phil Redding, Business Development Manager Slough Estates plc 01753 537171 Andrew Best/Buster Cheetham Shared Value Limited 0207 321 5010 Slough Estates Web Site www.sloughestates.com

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