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Wates C.Ldn.Props. (WLP)

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Tuesday 13 June, 2000

Wates C.Ldn.Props.

CityPoint New Tenants

Wates City of London Properties PLC
13 June 2000


CityPoint, the largest single commercial office development in the City of
London, developed by Wates City of London Properties plc, continues its
letting programme by securing two new tenants to the building.

Regus, the leading serviced office provider, is taking levels 11 to 15 of the
building (45,925 sq. ft / 4,265 sq. m).

DexterUs has taken level 16 (12,328 sq. ft 1,145 sq. m) and will be moving in
later this year.  DexterUs specialise in delivering advanced IT services which
are currently revolutionising the way businesses operate.*

The Regus and DexterUs lettings mean that CityPoint is substantially pre-let.

Commenting on the two new tenants, Rodney Clutton, Joint Managing Director of
Wates City of London Properties plc said: 'Our strategy for CityPoint has
always been to create the most dynamic and flexible environment for our
tenants to work in which will include providing those facilities within the
building that businesses would require in their normal working day.  We are
focusing very strongly on providing our tenants with the very best services as
their satisfaction is our biggest concern.  We are therefore delighted to
welcome two new tenants of the calibre of DexterUs and Regus who will help us
to extend the range of services that we offer our tenants.'

Mark Dixon, Chairman of Regus said: 'We are pleased to open a Regus Business
Centre in such a prestigious and prominent building as CityPoint.  Our centre
will complement the building by offering office space that will be offered on
very flexible terms.  We will also be providing services such as meeting and
conference rooms catering for either small or large groups (up to 100 people).
Our London centres are currently running at 95% occupancy rate and CityPoint
will be a fantastic addition to our portfolio.'

Jeremy Lloyd, Chief Operating Officer of DexterUs said: 'Moving to CityPoint
is an important step for us.  The City of London has the highest concentration
of business communication and computer penetration in Europe, and being based
in the centre of the City in a landmark building, on the doorstep of some of
the leading businesses in the world, is crucial to our success.  CityPoint
will become our global headquarters and as the building operates 24 hours a
day, 365 days a year this will allow us to communicate more effectively with
our customers throughout the world.'

DTZ Debenham Tie Leung acted on behalf of Wates City of London Properties plc
and DexterUs was advised by King Sturge.


* DexterUs is a new IT company with substantial backing that aims to become
the leading European Application Service Provider (ASP) for the financial
sector using a dedicated delivery platform allowing its customers to enhance
IT efficiency and reduce operating costs without compromising security.  The
ASP model is expected to revolutionise the way software and IT services are
delivered to businesses.  ASPs are service companies that host and manage
software applications for customers at a centrally managed facility.

The first tenants will be moving in to CityPoint in August with the building
completed in December of this year.  CityPoint will incorporate retail
facilities including restaurants, a wine bar, sandwich bar, coffee shop,
florist, and cash machines.  CityPoint will also have a Champneys Club.

For more details and live camera, see the website

For more details contact:

Rodney Clutton / Naomi Whitmore        Paul Davies / Natasha Woodward
Wates City of London Properties plc    Financial Dynamics
Tel: 020 7588 2888                     Tel: 020 7831 3113


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