Acquisition

Workspace Group PLC
12 September 2002



                       WORKSPACE IN £16 MILLION SOUTHBANK

                                  ACQUISITION

Further to the announcement made today by Shaftesbury PLC, Workspace Group PLC
('Workspace'), the leading provider of flexible business accommodation to small
and medium sized enterprises ('SMEs') in London and the South East, has
announced that it has contracted to acquire property on London's Southbank from
Shaftesbury PLC for £16million cash with completion expected on 30th September
2002.

Known as 59/65 Upper Ground, 1/2 Hatfields and 52/54 Stamford Street SE1, these
adjacent freeholds include 67,000 square feet of offices and storage, a public
house of 3,000 square feet and a covered car park. Income at completion will be
about £1.3million per annum.

Workspace will, as is their normal practice, make a full announcement after
completion of the transaction.

                                    - ends -

Date: 12 September 2002

For further information contact:
Workspace Group PLC                     City Profile Group
Harry Platt, Chief Executive            Ed Senior
Mark Taylor Finance Director            Simon Courtenay
020 7247 7614                           020 7488 3244
e-mail: [e-mail]       e-mail: [e-mail]
Web: www.workspacegroup.co.uk


                      This information is provided by RNS
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