CLI Cls Holdings Plc

RNS No 4593p
CLS HOLDINGS PLC
25th September 1998


"CLS SECURES AGREEMENT WITH LONDON BOROUGH OF LAMBETH FOR MAJOR LEISURE/RETAIL
REGENERATION PROJECT IN VAUXHALL"

The board of CLS Holdings plc ("CLS") is delighted to confirm that an
agreement has been reached with London Borough of Lambeth for a major
leisure/retail regeneration project in Vauxhall. Public consultation with all
interested parties will be co-ordinated shortly, prior to the commencement of
the formal planning procedure.

The scheme comprises approximately 140,000 sq. m (1,500,000 sq. ft.) of
leisure and retail activities, hotel, a cinema complex and other ancillary
uses, including private and social housing.

The project is designed to attract investment into the area and should
generate approximately 3,000 permanent jobs locally.

The proposed development, adjacent to Vauxhall underground and main line
stations, will offer an integrated transport solution designed to encourage
visitors to travel by public transport.

Glyn Hirsch, Chief Executive of CLS, said:

"This is an exciting opportunity to be working with Lambeth on this
spectacular project"

Jim Dickson, Leader of Lambeth Council, said:

"There is a massive need in Vauxhall for jobs, better housing and local
amenities. CLS will need to work closely with local residents to provide the
best possible scheme for the area"

Kate Hoey, MP for Vauxhall, said:

"These are exciting plans and I welcome the fact that local people, not only
will be consulted fully, but will be able to influence the final design of
Spring Gardens"

For further information, please contact:

Glyn Hirsch, Chief Executive, CLS Holdings plc           0171 582 7766
Brian Basham/Takki Sulaiman Basham & Coyle               0171 253 3300
Isolda McNeill, Press Office, London Borough of Lambeth  0171 926 2841


END


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