More New Site Acquisitions

Lok'n Store Group PLC
03 August 2004


LOK'NSTORE GROUP PLC
('Lok'nStore' or 'the Group')

More New Site Acquisitions

Lok'nStore Group plc, the fast growing AIM listed self storage company, is
delighted to announce the acquisition of two new properties, bringing the
Group's total number of storage centres to 20.

The first centre is located in Tonbridge, Kent and has a maximum lettable area
of approximately 36,800 ft(2). The property is leasehold and will open on 21st
August 2004.

The second site is in Farnborough and benefits from high visibility overlooking
junction 4 of the M3 motorway. This site is freehold and planning permission
will be sought to build a state of the art self-storage facility with a maximum
lettable area of approximately 48,400 ft(2).  It is anticipated that this site
will commence trading in Autumn 2005.

This brings the total number of new centres opened or acquired during the
current financial year to three, following the Group's opening of its Eastbourne
centre in October 2003. This reflects LoknStore's increasingly positive outlook
towards new centre openings.

Board Changes

Lok'nStore announces that  Andrew Jacobs will become Chief Executive Officer of
the Group with immediate effect.  Andrew has been involved with the Group since
inception. He has assumed full day-to-day control of the business over the last
12 months and will continue to perform this role.  Simon Thomas will take over
the role of Chairman.

Andrew Jacobs, Chief Executive of Lok'nStore, commented:

'We are delighted to have secured these two additional sites in these attractive
markets which complement our existing locations.  Trading in the existing
operation is encouraging and we are seeing a continuing pipeline of potential
sites in good locations.  Lok'nStore remains well positioned for further growth
in the rapidly expanding UK self storage market.'

3 August 2004

Enquiries:

Lok'nStore Group PLC                                 Tel: [phone]

Andrew Jacobs, Chief Executive
Ray Davies, Finance Director

Investec                                             Tel: [phone]
Rupert Krefting

College Hill                                         Tel: [phone]
Justine Warren
Crawford Burden


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