MBE MWB

RNS Number:8245E
MWB Business Exchange Plc
01 October 2007

FOR IMMEDIATE RELEASE

1st October 2007

       MWB BUSINESS EXCHANGE ACQUIRES STANHOPE BUSINESS CENTRES FOR #11.6M


MWB Business Exchange Plc ("Business Exchange", or "the Company"), the UK's
second largest provider of serviced office space, today announces that it is
acquiring the entire issued share capital of Stanhope Business Centres Ltd 
("Stanhope") for #11.6m, inclusive of approximately #1.8m of net cash. The
acquisition is being satisfied through a new #13m bank facility.


Stanhope, which was founded in 2003, operates two successful five-star serviced
office buildings in London's Covent Garden with a combined space of 43,500 sq ft
and a total of 427 workstations and eight meeting rooms.


The two buildings are in Chandos Place and Floral Street, both of which are held
on long occupational leases expiring July 2019 and May 2021 respectively. Both
properties have consistently achieved occupancy levels of approximately 90% over
the last two years and currently generate annual revenues of #4.7m and an
annualised EBITDA of #1.7m.


The acquisition forms part of Business Exchange's stated strategy of focusing
its expansion within prime areas of Central London that demonstrate high demand
for flexible business space from SMEs. Since Business Exchange floated on AIM in
December 2005 it has opened, or is in the process of opening a total of 11
centres in Central London in locations of proven demand for the Company's offer.


John Spencer, Chief Executive of Business Exchange, commented: "The acquisition
of Stanhope provides us with two terrific five star serviced office centres in a
part of Central London where we have previously not been represented. The
centres have been extremely successful since they opened and the Stanhope
approach of unbranded buildings fits perfectly into our business model. I firmly
believe these will be an excellent addition to our portfolio of Central London
business centres, all of which are continuing to perform strongly."


                                     Ends.



Contacts:

MWB Business Exchange Plc.                             Tel: 020 7706 2121
John Spencer, Chief Executive
Keval Pankhania, Finance Director

Baron Phillips Associates                              Tel: 020 7920 3161
Baron Phillips

KBC Peel Hunt Ltd                                      Tel: 020 7418 8900
Capel Irwin





Notes to Editors:



1.                  Following this acquisition Business Exchange will operate by
the end of the year a total of 60 centres, providing a total of over 16,000
workstations and 260 meeting rooms

2.                  Recently reported half year results show Business Exchange's
continued progress since its AIM listing in December 2005:

i)        22% revenue growth to #47.9m against 2006 comparable period

ii)       42% increase in EBITDA to #6.2m

iii)     Pre-tax profits up by 10% to #4.4m

iv)     Occupancy at 30 June 2007 stood at 88% up from 81% in comparable period






                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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