CLI Cls Holdings Plc

RNS Number:2284I
CLS Holdings PLC
30 March 2000


CLS ANNOUNCES THE SALE
OF 230 BLACKFRIARS ROAD LONDON SE1
FOR #20,690,000


CLS Holdings plc ("CLS") is pleased to announce the sale, on 27 March 2000, of
230 Blackfriars Road London SE1 to the Scottish Provident Institution for
#20.69 million.  This represents a net initial yield to the purchaser of
6.95%.

The price achieved is a significant premium to the book value of #18.5
million.  The property was originally acquired by CLS in 1994 for #3.9 million
at a yield of 21% and in 1998 CLS received #765,000 from Conoco, the previous
tenant, in settlement of dilapidations.  Subsequently #6.56 million was spent
on its refurbishment by CLS prior to its letting to American Express Europe
Limited and the Medical Defence Union Limited.


For further information, please contact:

Sten Mortstedt, Executive Chairman, CLS Holdings plc         020 7582 7766
Glyn Hirsch, Chief Executive, CLS Holdings plc               020 7582 7766
Ben Steele, Equity Marketing                                 020 7242 8005


END
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