CONTINUING POSITIVE MOMENTUM IN CONTINENTAL EUROPE

3rd May 2007

         CONTINUING POSITIVE MOMENTUM FOR SEGRO IN CONTINENTAL EUROPE          


Following its strong performance in Continental Europe in 2006, SEGRO today
announced in excess of 80,000 sq m of lettings in Continental Europe, including
38,000 sq m of pre-lets and representing additional rental income of
approximately €3.9m p.a., along with over €28m of acquisitions across the
continent and the €115m forward sale of the Portes de France office development
in St Denis to the north of Paris.

Highlights include pre-letting of logistics buildings in Poland totalling
37,000 sq m and lettings of business park units in Germany in excess of 15,000
sq m.

SEGRO's plans for further expansion on the continent continue apace with over
170,000 sq m currently under construction.

Walter Hens, Executive Director, Continental Europe said:

"I am very pleased that we have been able to follow up our strong performance
in 2006 with another steady flow of good results in 2007. We are seeing strong
demand from users for our product and are now recognised in the market as the
leading supplier of flexible business space across Europe, all of which
reinforces the platform for our ongoing expansion across Continental Europe".

Looking at the details of this positive momentum on a country by country basis:

Poland

A logistics pre-let has been signed at Stryków for 10,000 sq m. Construction is
under way with delivery expected in Q3, 2007. In addition, the last remaining
unit at Strykow, a 3,250 sq m unit in Building 3, has been let to Lidl, the
German retailer, bringing occupancy of the park to 100%.

Having opened an office in Silesia earlier this year a logistics pre-let has
been signed for 16,000 sq m. In addition 18 ha of land for industrial
development has been acquired there, adding to the group's already substantial
holdings in Poland.

Construction has also started on two speculative warehousing buildings, 23,000
sq m in Poznan, and 27,000 sq m in Strykow. The first pre-lease has already
been signed for the Poznan building with Masterlink taking 7,100 sq.m.

The Netherlands

At De Hoek near Schiphol airport, SEGRO has purchased for €15m a 21,000 sq m
warehouse building let to DHL/Exel until the end of the year. This transaction
is part of the planned site assembly for our S Park (security park) concept -
we now have a total of 26.4 ha of land - and the site will further enhance the
group's presence around Amsterdam's main international airport, providing
significant development opportunities.

Germany

A new office has been operational in Frankfurt since January, where SEGRO
currently has several live projects. This is already delivering good results
with 4 units having been let at the new Am Martinzehnten business park,
including 1,200 sq m to PricewaterhouseCoopers.

A 13,800 sq m logistics building, fully let to Bermes Logistik on a long-term
lease and c. 9,500 sq m of land for future development have been acquired for €
6m at Willich-Münchheide on the main road between Düsseldorf and
Mönchengladbach.

Construction is underway for new SEGRO Business Parks totalling 23,000 sq m at
Berlin and Essen, where the first unit has already been pre-let. Construction
has also started for 7,900 sq of speculative logistics development on the next
phase of the scheme at Kapellen.

In addition a 6,000 sq m warehouse building with further development potential
at Aachen has been bought at a yield of c9%.

Belgium

Construction has been started on Ernst & Young's new 17,000 sq m headquarter
building at Pegasus Park close to Brussels International airport.

Honda have leased a 2,250 sq m unit at the Relegem Sphere business park in
Brussels.

The €3.25m disposal to Hotel Management Services of land opposite Pegasus Park
has been completed. SEGRO will continue to project manage the development and
will take a €2.5m development fee for the construction of a 182 room hotel and
3,000m sq m of serviced offices.

France

Construction has started on the last three buildings, totalling 11,750 sq m, at
the Carré des Aviateurs business park in Le Blanc Mesnil. This is in addition
to a building of 5,500 sq m, pre-let to a local distribution company that will
be delivered in May. This brings the occupancy rate of the park up to 95% and
demonstrates a continued demand for this type of product in the northern
suburbs of Paris.

Canal Toys have leased an 18,100 sq m logistics building in Marly la Ville just
to the north of Charles de Gaulle Airport and a lease renewal has been agreed
with ODS at the 17,000 sq m Marinière I logistics building in Bondoufle to the
south of Paris. This 17,000 sq m lease renewal is in addition to the 80,000 sq
m of lettings of previously unoccupied space which have been announced today.

An agreement has been signed for a forward sale of the Portes de France office
development scheme to CGI for €115m for the whole scheme. SEGRO announced the
original 50:50 joint venture with Capital and Continental in January 2006, the
scheme is situated close to the Stade de France in St Denis and will provide
26,450 sq m of high quality office space when it is delivered in 2008. This
sale represents a yield of 6.5%, potentially descending to 6.0% if letting
targets are achieved and will produce profits in excess of our previous
expectations.

                                    -ENDS-                                     

Contacts:

SEGRO
Michael Waring Tel: [phone]

The Maitland Consultancy
Colin Browne Tel: [phone]

About SEGRO

SEGRO is the leading provider of Flexible Business Space in Europe.
Headquartered in the UK, SEGRO is listed on the London Stock Exchange and on
Euronext in Paris. The company is a UK Real Estate Investment Trust ("REIT")
with operations in eleven countries, serving a diversified customer base of
over 1,760 customers operating in a wide range of sectors, representing both
small and large businesses, from start ups to global corporations. With
investment property assets of £5.0 billion (£6.0 billion including trading
properties and development assets) and 4 million sq m of business space, SEGRO
has an annual rental income in excess of £300 million.

SEGRO is the trading name for Slough Estates plc.

www.segro.com