RNS Number:8041Q
Ashtenne Holdings PLC
13 October 2003
                                                                 13 October 2003

                   ASHTENNE IN FURTHER EUROPEAN ACQUISITION

Ashtenne Holdings plc ("Ashtenne"), the property investment and active
management specialist, has acquired a 550,000 sq ft logistics warehouse in
Amersfoort, near Utrecht, Netherlands, for #8 million from Hays.

The acquisition follows the #28 million acquisition of the pan European Rexel
portfolio.

Ashtenne has purchased the vacant property from Hays which has relocated to new
purpose built premises in Holland.  Hays benefits from a joint venture
arrangement with Ashtenne whereby it can receive further monies if Ashtenne adds
value to the property over the next five years.

Ian Watson, Joint Chief Executive of Ashtenne, commented:  "We are developing a
track record of successfully working with corporate real estate owners to help
them maximise the value of their property holdings in the context of their
strategic business objectives and are delighted to have had the chance to work
with Hays on this building.  The property is a classic Ashtenne opportunity
which offers good quality, flexible and economic space for occupiers as well as
some interesting redevelopment opportunities in the longer term".

Nigel Gray, Group Property Surveyor at Hays said: "We are pleased to have
disposed of this surplus space with the possibility of further financial upside.
Ashtenne moved swiftly and professionally particularly bearing in mind that
the property is out of the UK".

Hays were represented by Clews & Co and the Utrecht office of DTZ in Holland.



For further information
Ian Watson/Morgan Jones                        Jeremy Carey/Marylene Guernier
Ashtenne Holdings plc                          Tavistock Communications
Tel: 020 7930 9425                             Tel: 020 7920 3150
www.ashtenne.co.uk


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