RNS No 2254h
CITY SITE ESTATES PLC
1st August 1997



PROPERTY DISPOSAL

City Site Estates plc has exchanged contracts to sell the freehold interest in
its 27,000 sq. ft. office investment, Page House, 39/41 Parker Street, London,
WC2 to Bishop Brook Investments Ltd at a price of #9.25 million cash.  This
property was valued as at 30 September 1996 at #9 million.

The building is let in its entirety to Michael Page Holdings Limited at a
current rent of #1,172,000 per annum under a lease expiring in April, 2010 and
subject to tenant's only break options exercisable on 24 March, 2000 and 2005.

On receipt of the proceeds of #9.25 million the Company will reinvest in
appropriate property investments when opportunities arise.

This sale is in line with the Company's declared policy of realigning its
investment portfolio and the proceeds will be utilised to realign the balance
between the retail, office and industrial sectors.

Enquiries:    Louis Goodman, Managing Director
              City Site Estates
Telephone:    0141 248 2534


END
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