Acquisition

Slough Estates PLC
                  

30th June, 2005

Slough Estates announces $351m Californian purchases

Slough Estates plc, a leading provider of flexible business space, today
announces that it has purchased two business parks in the Bay Area of South San
Francisco and a 41 acre development site at Bressi Ranch, Carlsbad, California
for a total of $351 million. These purchases are a continuation of Slough's
stated strategy to recycle assets in California so that Slough Estates USA
continues to be self-financing.

In the San Francisco Bay Area, Slough has acquired the 726,000 sq.ft. Shoreline
Technology Center and the 623,000 sq.ft. Seaport Center from Equity Office
Properties. Major customers include lifescience companies; Boston Scientific,
Perlegen Sciences, Abbott Laboratories, Radiant Medical and LuMend and
technology company Actel.

The land at Bressi Ranch, Carlsbad, will accommodate approximately 700,000
sq.ft. of two-storey office and R&D product. Slough will begin construction on
the sites in the near future and will also be marketing to biotech companies for
build-to-suit requirements.

Commenting on the acquisitions, Ian Coull, Chief Executive of Slough Estates
said: 'The acquisition of the Shoreline and Seaport Centers strengthens our
portfolio in California in the short term. There are significant opportunities
for us to add value to the Shoreline and Seaport Centers through our established
reputation and proven expertise in lifescience property which will attract
lifescience customers to these well located parks. Bressi Ranch is a significant
addition to our development pipeline in the San Diego County market, reinforcing
our position as the pre-eminent developer of lifescience facilities in the
region.'

Slough Estates is a leading provider of flexible business space in business
parks in Western Europe and North America, with over 1500 customers occupying
2,996,967 square metres of business space, with a total value of £3.9 billion.
Slough Estates' properties are in suburban locations in close proximity to the
main business centres, where there is long term demand for business
accommodation to serve these key economic regions. The company's main activities
are currently based around London, Brussels, Paris, Düsseldorf, San Francisco
and San Diego and the company continues to develop new business parks with the
long term objective of building shareholder value and enhancing its reputation
for quality buildings offering excellent value to customers.

www.sloughestates.com

For further information contact:


Slough Estates                                       Shared Value Limited
Ian Coull, Chief Executive                           Andrew Best / Emily Bruning
Tel: [phone]                                    Tel: [phone] / 5027