Statement re SLOUGH ESTATES SELLS CALIFORNIAN

Slough Estates PLC
                  


20th October, 2005

 SLOUGH ESTATES SELLS CALIFORNIAN OFFICE PORTFOLIO FOR US$ 182 MILLION

Slough Estates plc, a leading provider of flexible business space, has sold a
764,000 square foot portfolio of office properties at Pleasanton, California,
for US$182 million, a net US$109 million, to Triple Net Properties, LLC.

Slough Estates received gross proceeds of $182 million for Phases I to VIII of
the Pleasanton development against a valuation prior to sale of $137 million, a
premium of 33%. After expenses, mortgages and fees, the total distributable
proceeds for the joint ventures between Slough Estates and National Electrical
Benefit Fund (NEBF) were $136m, which represents a gain of 58% on the $86
million of cumulative costs for the development. Slough Estates' final share
after paying out the NEBF was $109 million.

Ian Coull, Chief Executive of Slough Estates, commented; 'The sale of Pleasanton
- at a significant premium to its most recent valuation - represents a further
major step in the focusing of our US portfolio on the development of properties
for biotech companies around San Francisco and San Diego. We believe that this
sector will continue to flourish in these two major metropolitan areas as both
markets have clearly become world leading centres for biotech operations,
directly adjacent to major related research institutions and based in North
American markets in which the natural demand for their products is underpinned
by an ageing but affluent population. We have a strong development pipeline in
place.'

Slough Estates' US portfolio amounted to some 5 million square feet of property
worth approximately $1.5 billion - including the Pleasanton land and as valued
at the interim results stage.

Slough Estates is a leading provider of flexible business space in business
parks in Western Europe and North America, with over 1500 customers occupying 3m
square metres of business space. 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 Officer            Andrew Best / Emily Bruning
Michael Waring, Corporate Communications      Tel: [phone] / 5027
Tel: [phone]