Acquisition

Workspace Group PLC
25 July 2003


                    WORKSPACE ACQUIRES POPLAR BUSINESS PARK

                                   FOR £16.1M


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 the purchase of Poplar Business Park, Prestons Road,
London E14 for a cash consideration of £16.10 million.

The Poplar Business Park is a prominent, modern B1 scheme close to Canary Wharf
and comprises 33 units totalling 74,736 sq. ft (6,943 sq. m) arranged in three
terraces. The majority of the occupying businesses provide service and support
to City businesses. The scheme produces an income of £1.134m per annum, an
initial yield of approximately 7% with significant reversionary potential.

Commenting on the acquisition, Harry Platt, Chief Executive, said;

' This is a classic example of Workspace's core product. It is close to Canary
Wharf, which makes it ideal for SMEs that support customers in Docklands. It
fits well with our existing East London cluster of Workspace sites and enhances
the range of properties that we can offer to potential customers. We are also
confident that our flexible leases at this estate will be attractive to our
customers and that in the long-term this will enable us to enhance rental
values.

' This acquisition, is further evidence of Workspace's continuing strategy to
increase the size and scale of the business and strengthen the Group's position
as the leading supplier of space in the capital for the SME sector.'

                                     -ends-

Date: 25 July 2003

For further information:
Workspace Group PLC                                       City Profile Group
Harry Platt, Chief Executive                              Simon Courtenay
Mark Taylor, Finance Director                             020-7448-3244
020-7247-7614
e-mail: [e-mail]
web: www.workspacegroup.co.uk



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