CLI Cls Holdings Plc

RNS No 8781n
CLS HOLDINGS PLC
20 April 1999


CLS PRELETS TO AMERICAN EXPRESS

The board of CLS Holdings plc ("CLS") is pleased to announce the preletting of
approximately 2,787 sq m (30,000 sq ft) of office space at 230 Blackfriars
Road, London SE1, to American Express Europe Ltd.  

American Express has agreed to lease 2,787 sq m (30,000 sq ft) for a term of
10 years and 10 months including an initial 10 month rent free period.
American Express has signed a new FRI lease on the 4th - 7th floors at an
initial rent of #705,000 per annum (#248.00 per sq m, #23.00 per sq ft).  CLS
has granted American Express an option to take an additional 1,394 sq m
(15,000 sq ft) on similar terms.

CLS is refurbishing the 5,575 sq m (60,010 sq ft) office building, which was
vacated in November 1998 by Conoco Ltd, and this will be completed in
September 1999.  The comprehensive refurbishment will create top specification
offices including air conditioning, raised floors and suspended ceilings.
Allsop & Co and Weatherall Green & Smith are instructed by CLS to market the
remaining space.

Executive Chairman, Sten Mortstedt, said:

"I am delighted with this preletting to a very strong tenant. 230 Blackfriars
Road is proving an excellent investment and when refurbished will represent
another high quality property in our portfolio."


For further information please contact:

Glyn Hirsch, Chief Executive, CLS Holdings plc              0171-582 7766
Adam Reynolds / Ben Steele, Basham & Co                     0171-242 8005


END


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