Acquisition

Benchmark Group PLC
14 June 2002




               BENCHMARK ACQUIRES TREVELYAN HOUSE, SW1 FOR £29.6M



                                                                    14 June 2002




Benchmark Group PLC ('Benchmark'), the Central London property investment and
development company, has acquired the freehold interest in Trevelyan House, 30
Great Peter Street, London SW1 for around £30 million from KP Fund , one of the
largest property investors in Scandinavia, being both a life assurance company
and managers of The Pension Fund for Municipal Workers of Denmark. The purchase
has been funded from existing cash and bank resources.



Trevelyan House is located at the heart of Westminster's central business
district and occupies a key position on a prominent corner site, on the north
side of Great Peter Street, diagonally opposite the site for the New Home
Office.  Constructed in 1985, it is a headquarters office building providing
60,000 sq ft of high quality office accommodation arranged over lower ground,
ground and six upper floors.



The offices are let to the Secretary of State for Transport, Local Government
and the Regions, for a term of 25.5 years from 25 December 1985, subject to
upward only five yearly rent reviews.  Three government bodies occupy the
building, The Office for Government Commerce, The Electoral Commission and the
Health Development Agency.



At the review in June 2001, the passing rent was agreed at £2,415,000 per annum,
which equates to approximately £435.95 per sq m (£40.50 per sq ft overall).



Nigel Kempner, Chief Executive of Benchmark commented: 'Westminster has current
significant potential due to the high level of government office requirements
and limited supply of good quality office space.  We are pleased to have
acquired Trevelyan House, a quality property in the centre of Victoria, at an
attractive yield of just under 8%.'



CB Hillier Parker advised Benchmark Group plc.  Cushman & Wakefield Healey &
Baker acted for KP Fund, having advised on the original purchase in 1998.















For further information please contact:


Nigel J Kempner                               Jeremy Carey/Marylene Guernier
Benchmark Group PLC                           Tavistock Communications Ltd
020 7287 6881                                 020 7600 2288










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