CLI Cls Holdings Plc

RNS No 4783e
CLS HOLDINGS PLC
11th August 1998


CLS ACQUIRES BUSPACE STUDIOS, LONDON W10

The Board of CLS Holdings plc ("CLS") is pleased to announce that it has
acquired the freehold interest in Buspace Studios, Conlan Street, London W10
for #1.985m.

The property comprises 2,508 sq. metres (27,000 sq. ft.) and produces a net
annual income of #195,943 per annum giving an initial yield of 9.87%.  Once
the vacant space of 393 sq. metres (4,236 sq. ft.) is let, the yield will rise
to 11.7%.

The property operates as a business centre and is let to approximately fifty
tenants at low rents of #8.60 per square foot, on short-term leases and
provides opportunities for active management.

Executive Chairman, Sten Mortstedt, said:

"This acquisition provides excellent value for money and cash flow, and also
increases CLS's  exposure to the short-term letting market which we believe
offers excellent potential for growth."


For further information, please contact:

Sten Mortstedt, Executive Chairman, CLS Holdings plc        0171 582 7766
Glyn Hirsch, Chief Executive, CLS Holdings plc              0171 582 7766
Brian Basham/Chris Skyrme, Basham & Coyle                   0171 253 3300 


END

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