CLI Cls Holdings Plc

RNS Number:2405P
CLS Holdings PLC
10 August 2000


                             CLS HOLDINGS PLC ("CLS")
                              ANNOUNCES NEW LETTING
                              AT SOLNA BUSINESS PARK
                                   STOCKHOLM

The Board of CLS is pleased to announce the completion of a further letting at
Solna Business Park.

A total of 891 sq m (9,575 sq ft) of light industrial space and car parking has
been let to Informationsteknik AB at an aggregate annual rent of SEK 1,252,620
(#90,770).

The premises were previously vacant and the rent achieved of SEK 1,320 per sq m
(#8.80 per sq ft) is at a level well above current rents for similar space in
the building and is almost 100% higher than the estimated rental value at the
time of acquisition, demonstrating the anticipated rental growth.

CLS will carry out a minor refurbishment of the accommodation and the lease will
expire at the same time as other leases in the building, enabling a
comprehensive refurbishment at that time.

Executive Chairman, Sten Morstedt, said:

"This letting is at almost twice the level we anticipated for this kind of space
when we acquired Solna. The short-term letting of unrefubished commercial space
maintains our strong cash flow whilst our long-term strategy for Solna Business
Park develops.


For further information, please contact:

Contact:
Sten Mortstedt, Executive Chairman, CLS Holdings plc     020 7582 7766
Glyn Hirsch, Chief Executive, CLS Holdings plc           020 7582 7766

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