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Wates C.Ldn.Props. (WLP)

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Wednesday 18 October, 2000

Wates C.Ldn.Props.

Disposal

Wates City of London Properties PLC
18 October 2000


Wates City of London Properties plc has today completed the sale of its 45%
interest in Winchester House, London EC2 to Prudential Assurance.  The
conditional sale was announced last month and approved by Wates' shareholders at
an EGM on 25th September.  Wates' interest in Winchester House was subject to
pre-emption in favour of the Deutsche Bank group, the owner of the other 55% of
the property.  Deutsche declined to exercise its pre-emption and the sale to
Prudential has now proceeded.


                                                                                
                                                                                
                                       

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