CLI Cls Holdings Plc

    For immediate release: Tuesday 20th February 2007

                  CLS HOLDINGS PLC ("CLS") PURCHASES FURTHER                   

                STAKE IN BULGARIAN LAND DEVELOPMENT PLC ("BLD")                

CLS Holdings plc has agreed to subscribe to 7,211,878 shares at a price of �1
per share in a placing to raise further capital of �15 million for Bulgarian
Land Development plc which is listed on the Alternative Investment Market of
the London Stock Exchange. The agreement to subscribe is conditional upon
resolutions being passed at an Extraordinary General Meeting to be held by BLD
on 14 March 2007 when, among other things, it will be proposed that Per
Sj�berg, Chief Executive Officer of CLS, will become Non-Executive Chairman of
BLD.

The new subscription will increase the stake of CLS in Bulgarian Land
Development plc to 28.65%.

BLD develops residential and commercial property opportunities in Bulgaria
which joined the EU in January 2007. Construction of its first residential
project of 199 villas and apartments on the Black Sea coast is due to commence
in February and is already over 35 per cent pre-sold.

Executive Chairman of CLS Holdings plc, Sten Mortstedt, commented:

"I am happy at the progress that BLD has made since its flotation in March 2006
and our further participation shows our confidence in the region, the company
and its management."

                                    -ends-                                     

For further information, please contact:

Sten Mortstedt, Executive Chairman

Per Sj�berg, Chief Executive Officer

CLS Holdings plc

www.clsholdings.com Tel. +44 (0)20 7582 7766

Hansard Group

Ben Simons / Adam Reynolds Tel. +44 (0) 207 245 1100

www.hansardgroup.co.uk



END

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