CLI Cls Holdings Plc

RNS No 9620w
CLS HOLDINGS PLC
7th July 1998


CLS SELLS PRINCES COURT

CLS Holdings plc ("CLS") is pleased to announce the sale of its long leasehold
interest in Princes Court, The Highway, Wapping Lane, London E1 for a price of
#14.58 million to Norwich Union Life & Pensions Ltd representing a net initial
yield of 8.6 per cent after purchasers' costs.  The purchase price is
significantly in excess of CLS' book value at 31 December 1997.

Princes Court comprises mixed used light industrial and office business units
let to six tenants.  It was constructed in the late 1980's and comprises
12,063 square metres (129,846 square feet).

Executive Chairman, Sten Mortstedt, said:

"I am pleased that we have been able to sell this property at an attractive
price, and well above book value.  Princes Court was our only significant
industrial property investment and our only asset East of the City."


For further information, please contact:

Sten Mortstedt, CLS Holdings plc                                0171 582 7766

Glyn Hirsch, CLS Holdings plc                                   0171 582 7766

Brian Basham / Chris Skyrme, Basham & Coyle                     0171 253 3300

END

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