Energy Assessors JV

LSL Property Services
29 May 2007




For Immediate Release                                                29 May 2007
                                        
                                        
                            LSL Property Services plc

                         Energy Assessors Joint Venture

LSL Property Services (LSL) and Connells Group announced on 19 March 2007 the
launch of energy-assessors.com, a Joint Venture set up to meet the demand for
Energy Performance Certificates as part of the Government initiative to
introduce Home Information Packs.

On 22 May 2007, the Government announced its intention to delay the introduction
of Home Information Packs (HIPs) in England and Wales until 1 August 2007. The
Government is now planning to introduce the HIP regulations in phases, with only
four or more bedroom properties requiring a HIP from this date.

As a result of this announcement, the LSL Board has undertaken a review of its
strategy in relation to HIPs and in consultation with the Connells Group has
decided that its plans for energy-assessors.com will not proceed at this time.
The LSL Board will monitor the development of the HIP Regulations and will wait
until there is more certainty with regard to the Government's future intentions
in this matter before making any further decisions.

To date, LSL has invested approximately £150,000 in the Joint Venture and has no
further liability beyond this amount.

                                      END

For further information please contact:

LSL Property Services                   01904 715324
Simon Embley, Chief Executive
Dean Fielding Group Finance Director

Buchanan Communications                 020 7466 5000
Richard Darby, Nicola Cronk, Catherine Breen

Notes to editors

LSL Property Services plc is one of the leading residential property services
companies in the UK and provides a broad range of services to its customers who
are principally mortgage lenders, as well as buyers and sellers of residential
properties. LSL's main operations are its surveying business, which operates
under the e.surv and Chancellors Associates brands, its estate agency business,
which operates under the Your Move and Reeds Rains brands, and its financial
services business.
For further information, please visit LSL's website: www.lslps.co.uk

The Connells Group comprises three estate agency businesses; Connells, Sequence
and Sharman Quinney. The Connells Group is the second largest estate agency
network in the country. As well as operating under the Connells and Sharman
Quinney names it also trades under 11 other well-known local brands within the
Sequence business, including William H Brown, Barnard Marcus and Fox & Sons.
In 1996, Skipton Building Society acquired a majority stake in the company with
Connells senior management taking a 25% shareholding. Connells Group is a
strategic shareholder in the UK's number one property website, Rightmove.co.uk.
 For further information, please visit Connells' website: www.connells.co.uk




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