Planning Consent Grant for Redevelopment

Embargoed: 4th April 2006, 07.00hrs

                               CLS HOLDINGS PLC                                

                                    ("CLS")                                    

                         PLANNING CONSENT GRANTED FOR                          

                     NEW LONDON BRIDGE HOUSE REDEVELOPMENT                     

CLS Holdings plc is pleased to announce that plans to redevelop a strategic
site in front of London Bridge station were, last night, granted planning
consent by the London Borough of Southwark Planning Committee. The scheme is
designed by the architect, Renzo Piano.

Known as New London Bridge House, the scheme represents the latest phase in the
redevelopment of the London Bridge Quarter. It will involve the demolition of
an existing 1960's office tower and replacing it with a spectacular 55,800 sq m
(600,000 sq ft) office and retail building.

New London Bridge House is owned by the same consortium as The Shard at London
Bridge and comprises Sellar Property Group, CLS Holdings plc and the Halabi
Family Trust, represented by Buckingham Securities.

In addition to the 5,000 jobs the development can accommodate, New London
Bridge House is an integral part of the planned London Bridge Station
regeneration project that includes The Shard, an extensive public piazza and
fully integrated public transport links.

New London Bridge House will provide high quality office space, with typical
floors of over 2,800 sq m (30,000 sq ft) each, capable of serving a single
tenant or being subdivided for multiple occupancy. It is also proposed to
create a new entrance to the underground with an escalator link between street
and concourse levels, together with 1,900 sq m (20, 000 sq ft) of new retail
space.

Sten Mortstedt, Executive Chairman of CLS, which will lead the development now
that planning has been granted, said: "We are delighted to be able to continue
the regeneration of this major transport hub with these exciting designs. This
part of London offers huge potential and Renzo's visions and designs will
finally turn the area into one of the capital's key office locations."

Ends

Contact:

CLS Holdings plc

Tel: [phone]

Sten Mortstedt, Executive Chairman

Per Sjöberg, Chief Executive Officer

Hansard Communications

Tel: [phone]

Adam Reynolds/Ben Simons