Slough Estates Raises Finance

Slough Estates PLC
11 May 2000


           Slough Estates Raises US$160 million of Long Term Finance

Slough  Estates  USA  Inc., a fully owned subsidiary of  Slough  Estates  plc,
yesterday completed a private placement of the following unsecured loan  notes
with nine domestic US institutions:


Maturity       2008            2010            2012            2015
Amount         $15 million     $91.5 million   $43.5 million   $10 million
Coupon         7.84%           7.94%           8.00%           8.09%


The  financing,  which  was  oversubscribed,  was  arranged  by  RBC  Dominion
Securities  and enjoys the guarantee of Slough Estates plc.  Proceeds  of  the
issue  will  be  used  to re-finance bank line drawings  funding  the  Group's
Californian  bio-science and high-tech developments which are currently  fully
let on long term leases.

The  additional funding arising from the over-subscription will help  to  fund
the pre-let development of a research and office campus for a subsidiary of  a
major US health-science company at Torrey Pines Science Center, San Diego.

Trevor Mant, Slough Estates' Treasurer said:

'The  outcome  of this initiative is very satisfactory.  We have  matched  the
maturity profile of the debt pretty much to that of the leases on the property
portfolio, and have locked in at interest rates which are substantially  below
the initial rental yields on cost.'

Contact:

Trevor Mant
Group Treasurer
Slough Estates plc       01753 213389

Dick Kingston
Finance Director
Slough Estates plc       01753 537171

Melanie Richards
Director, Global Markets
RBC Dominion Securities   020 7653 4880

Andrew Best
Buster Cheetham
Shared Value Limited      020 7321 5010