Issue of £225 Million Fixed Rate Bonds Due 2024

Slough Estates PLC
21 January 2000

                    Slough Estates plc
      Issue of £225 million fixed rate Bonds due 2024

Slough Estates plc announced today that it is launching  an
issue  of £225 million fixed rate Bonds 2024 (the 'Bonds').
The Bonds will be lead managed by Warburg Dillon Read.

The  Bonds will be priced on a yield basis.  The Coupon and
the  Issue  Price will be determined to give  an  effective
yield  to  investors  of 185 basis points  over  the  gross
redemption  yield on 8 per cent.  Treasury  Stock  2021  at
that  time.   The Bonds will be repayable  in  full  on  23
February  2024  and interest on the Bonds will  be  payable
semi-annually in arrear on 23 August and 23 February.

Application  will be made to the London Stock Exchange  for
admission  of  the  Bonds  to the  Official  List.   It  is
expected  that  listing will be granted and  that  official
dealings will commence on 24 February 2000.


Enquiries:

Slough Estates plc
Dick Kingston, Group Finance Director       01753-537171
Trevor Mant, Group Treasurer                01753-213389
                                        


Warburg Dillon Read
Tim Guest, Executive Director               0171-568 2549
Frank Kennedy, Executive Director           0171-567 4458