CLI Cls Holdings Plc

RNS Number:0362Y
CLS Holdings PLC
2 July 2002


Release date:                        2nd July 2002

Embargoed until:                        07:00



                 CLS HOLDINGS PLC ("CLS") ANNOUNCES

                       NEW LETTINGS IN LONDON

The Board of CLS is pleased to announce further lettings to the UK Government at
Spring Gardens Business Park in Vauxhall, SE11 ("Spring Gardens").

A department of the Home Office has taken a new lease of the whole of another
existing building totalling 17,919 sq ft (1,665 sq m) at an initial rent of
£586,183 per annum (£32.71 per sq ft / £352 per sq m including basement storage)
for a term expiring in 2025, with upward only reviews on 25th December 2005 and
every five years thereafter.  There is a tenant break option on 25th December
2017 and 25th December 2020.  The new rent of the building is £126,558 per annum
greater than the previous rent.

To facilitate the deal CLS accepted a surrender without payment of part of the
ground and first floors of the building from the previous tenant, E Satisfy Ltd,
who took 2,200 sq ft (204 sq m) of space at Ingram House, another building owned
by CLS, for a five year term at a rent of £89,100 per annum (£40.50 per sq ft /
£437 per sq m).

In addition, CLS is currently constructing an additional 10,800 sq ft (1,003 sq
m) of offices linking two of the other buildings at Spring Gardens which are
already let to the same Home Office department.  This has been pre-let to the
department at £345,600 per annum (£32 per sq ft / £345 per sq m), with the rent
to commence upon phased completion of the additional building between September
2002 and January 2003.

On final completion a number of the department's occupational leases at Spring
Gardens  will be extended.

Thus in January 2003 the Home Office will occupy 114,179 sq ft (10,607 sq m) of
Spring Gardens representing 71% of the net lettable space of the estate, paying
an aggregate annual rent of £3,737,776 under leases expiring between 2010 and
2025.  The remaining space at Spring Gardens is let until June 2015.


                                     -ends-

For further information, please contact:

Sten Mortstedt
Executive Chairman
Tom Thomson
Vice Chairman & Acting Chief Executive 
CLS Holdings plc                                       Tel. +44 (0)20 7582 7766

www.clsholdings.com

Takki Sulaiman/Ben Simons                              Tel. + 44(0)20 7735 9415
Hansard Group Plc



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