Acquisition of New Premises

Slingsby(H.C.)Plc
27 May 2005

H.C. Slingsby plc ('Slingsby')

Acquisition of New Head Office Premises



The Board is pleased to announce the completion of the acquisition of a new head
office site (called Baildon Holmes).  The premises are located 4 miles from the
existing head office on the edge of the town of Shipley, West Yorkshire.



The Board has been heavily engaged in a significant project to review Slingsby's
operations with a view to taking greater control of the supply chain. The
ultimate aim is to significantly enhance customer service levels.



The nature of Slingsby's activities has gradually changed over the past 20
years.  Slingsby is no longer predominantly a manufacturing business and has
evolved into a marketing led distribution business with a small niche
manufacturing capability.  The current site is largely inappropriate for our
current business activities. It has limited access and is spread over several
buildings separated by a busy road, leading to ineffective warehousing and
logistical operations, coupled with inefficient use of personnel.



All possible options have been considered by the Board, including rebuilding
part of the existing site, but due to the topography this would be very
expensive and largely impractical. The Baildon Holmes premises are approximately
125,000 square feet, comprising five single storeyed interlinking warehouses
fronted by two and three storeyed office accommodation. The site occupies an
area of 4.75 acres. An additional 0.88 of an acre of land adjacent to the site
has also been acquired to allow for future expansion.



The full consideration for the new premises (including the additional land, but
excluding stamp duty) is £4.25 million.  This is being satisfied from our cash
resources.



The purchase of the Baildon Holmes property is not dependent on the sale of the
current Preston Street site. It is, however, the Board's intention to market for
sale the existing premises in Bradford as soon as possible. The Board expects
Slingsby to move to the Baildon Holmes premises during the first quarter of 2006
following completion of the refurbishment programme.







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