Acquisition

Workspace Group PLC
03 February 2004


                      WORKSPACE STRENGTHENS PORTFOLIO WITH
                                TWO ACQUISITIONS


Workspace Group PLC ('Workspace'), the leading provider of flexible business
accommodation to SMEs in London and the South East has acquired two properties
in London, for a total cash consideration of £12.5m.

Acquisition of Linton House, 164/180 Union Street, SE1

Workspace has completed the purchase of Linton House, a freehold business centre
on Union Street, SE1, within the heart of what is now known as the Southbank
area of Central London. The property is a converted Victorian warehouse. It
comprises 35,000 sq. ft in 36 units, with a current occupancy level of 94%. The
current net rental income is £768,000 per annum, an average rent of £20.70 per
sq. ft. This represents an initial yield of 9% on the purchase price of £8.5m.

National Works, Hounslow

Workspace has also acquired National Works, Bath Road, Hounslow, a modern small
unit industrial estate comprising 48,000 sq. ft in 36 units. The estate is in a
good location close to the main A4 Bath Road, midway between Hounslow and
Heathrow Airport. It produces a current rent roll of £320,000 per annum, which
represents an initial yield of 7.6% on the purchase price of £4m. The estate is
83% let, with 5 units vacant. The estate has good potential for significant
improvement.

Harry Platt, Chief Executive commented,

' Both these acquisitions are within our core area. We have followed National
Works for some time and it is in part of London where we are keen to increase
our offering.  Linton House, is in the heart of the Southbank, an area we know
well and near to existing Workspace properties. It will complement these well.

' Both acquisitions offer a good immediate income yield. Over the medium-term we
are confident we will be able to improve their performance with the application
of our intensive management and marketing skills.'

                                     -ends-

Date: 3rd February 2004
For further information contact:

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



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