CLI Cls Holdings Plc

RNS No 3715t
CLS HOLDINGS PLC
2nd March 1999


CLS ACQUIRES WATFORD PROPERTY

The board of CLS Holdings plc ("CLS") is pleased to announce that it has
completed the acquisition of Colne House, 21 Upton Road, Watford WD1 from
Threadneedle Property Fund Managers Ltd.  

CLS has bought the property for #6.4 million at an initial yield after costs
of 10%.  The property, which comprises 2,381 square metres (25,629 square
feet), was built in 1985 and is let to Hitachi Europe Ltd for a term expiring
in September 2010 at a current rent of #670,000 per annum.  The entire
property has been sublet to Bell Cablemedia Plc, a wholly owned subsidiary of
Cable & Wireless Plc.  

The equity investment of #1.2 million produces an annual return of 28% based
on the completed loan facility with financing cost of 6.35% per annum.

Executive Chairman Sten Mortstedt said:

"This is an excellent acquisition of a high quality property providing an
extremely attractive return."

For further information, please contact:

Glyn Hirsch, Chief Executive, CLS Holdings plc              0171-582 7766
Chris Skyrme / Ben Steele, Basham & Coyle                   0171-253 3300


END

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