Chairman's Statement

Slough Estates PLC
16 May 2000

                          SLOUGH ESTATES PLC
                        ANNUAL GENERAL MEETING

Chairman, Sir Nigel Mobbs commented:

I am pleased to be able to say that the favourable market conditions I
reported in my Annual Statement continue. Throughout our operations the
level of enquiries for new space remains at encouraging levels.

Since the announcement of the preliminary results we have here in the
United Kingdom acquired the Cambridge Research Park comprising 112
acres to the north of Cambridge. The site, which includes a wildlife
refuge, has planning permission for the development of 570,000 sq.ft.
of office and R&D facilities and a hotel. A building of 73,000 sq.ft.
is under construction and is pre-leased to Cambridge Cable. Cambridge
is the leading centre for technology and science-based businesses in
the UK and this acquisition will give us the potential to build upon
our very successful experience of developing health science buildings
in California.

We currently have a substantial programme of new construction in the
UK, Europe and North America amounting to some 3.6-million sq.ft. in
2000. Looking further ahead we expect to build some 13-million sq.ft.
over the next 5 to 7 years costing a total of over £1-billion including
this year's programme.

This programme is evidence of our confidence of the Group's ability to
perform well in the years ahead.

For further information please contact:

Andrew Best / Buster Cheetham      [e-mail]
Shared Value Limited               [e-mail]
020 7321 501