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Wates C.Ldn.Props. (WLP)

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Monday 13 November, 2000

Wates C.Ldn.Props.

Stmnt re Press Comment

Wates City of London Properties PLC
13 November 2000

                                                            13 November, 2000

                Wates City of London Properties plc ('Wates')

Following recent press speculation, the Board of Wates announces that it is in
discussions which may or may not lead to an offer for Wates. The Board of
Wates will make a further announcement as and when appropriate.

The Board of Wates continues to explore all methods of realising value for
shareholders, including making preparations for a return of capital to
shareholders as previously announced.


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