Employees' Benefit Trust

Slough Estates PLC
04 May 2005



On 4 May 2005 the independent trustee of the Slough Estates plc Employees'
Benefit Trust (the 'Trust') awarded 618,823 Ordinary Shares in Slough Estates
plc at a price per share of £4.87759. The Trust is a discretionary trust for the
benefit of employees and former employees (and, in each case, their families) of
Slough Estates plc and its subsidiaries.

I D Coull
J A N Heawood
R D Kingston
M D Lees

Directors of Slough Estate plc are amongst the potential beneficiaries under the
Trust. No consideration is payable for the acquisition of the interests of
potential beneficiaries under the Trust.





J R Probert
Group Company Secretary

JRP/LG/SE Announcement
LTIP 2005




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