CLI Cls Holdings Plc

RNS Number:6363B
CLS Holdings PLC
30 November 1999



CLS HOLDINGS PLC ("CLS")
ACQUIRES 275/281 KING STREET HAMMERSMITH, LONDON W6


The board of CLS is pleased to announce that it has purchased the freehold
interest in 275/281 King Street, Hammersmith, London W6 for #3.2 million.

The property, which is predominantly let to London Borough of Hammersmith and
Fulham, comprises a total of 1,895.1 sq. m. (20,399 sq. ft.), and produces a
net annual income of #312,456 per annum equating to an average rent of #164.88
per sq. m. (#15.32 per sq. ft.). The initial yield on purchase is 9.76% and
there is potential for future rental growth.

The property adjoins London House Business Centre which was acquired by CLS in
July 1997 for #1.375 million, and offers considerable scope for added value
through active management of tenants and redevelopment.


Executive Chairman, Sten Mortstedt, said:

"This is an excellent acquisition in its own right and in addition offers
further growth potential in the light of our ownership of the adjoining
property".


For further information, please contact:

Sten Mortstedt, Executive Chairman, CLS Holdings plc       0171 582 7766
Glyn Hirsch, Chief Executive, CLS Holdings plc             0171 582 7766
Adam Reynolds/Rebecca Shand, Basham & Co                   0171 242 8005


END
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