Closure of French operation

Big Yellow Group PLC
28 November 2002

                                      
Big Yellow Group PLC
28 November 2002
                                                                28 November 2002



                               Big Yellow Group PLC   

                           Closure of French Operation


Big Yellow Group PLC, the self-storage company, today announces that, following
a strategic review, the Group is terminating its activities in France, with
immediate effect.


Closure costs will amount to approximately £250,000, which will be charged as an
exceptional item in the current year. The Group has no property assets in
France, employs two people and has a licence on an office, which is terminable
at one month notice.


Having achieved cash flow positive status, the Group's short-term ambition is to
become profitable and to pay a dividend. Therefore, the Board has concluded the
continuation of the expenses needed to be incurred in France would impede that
ambition.


The closure of the Paris office will result in an annual overhead and property
expense saving of approximately £300,000.


The Group believes that its ambition to become profitable can be achieved whilst
remaining focused on its long-standing commitment to a 50 store portfolio in the
UK.



                                     -Ends-



For further information, please contact:

Big Yellow Group PLC                                            01276 470 190
Nicholas Vetch, Chief Executive
James Gibson, Chief Operating Officer



Weber Shandwick Square Mile                                      020 7950 2800
Louise Robson/Sally Lewis






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