Acquisition

Mentmore Abbey Plc
20 September 2000


                   MENTMORE ABBEY PLC
                            
   ACQUISITION OF LEADING FRENCH SELF-STORAGE OPERATOR
   TOTAL OF 15 SELF-STORAGE CENTRES NOW ADDED IN 2000

Mentmore Abbey plc, the leading space management group in
Europe,  has  agreed to purchase the whole of  the  share
capital of Une Piece en Plus ('UPP'), the principal self-
storage operator in the Paris market.

UPP  has  an  experienced  management  team,  which  will
continue  to run the business and will form the basis  of
future expansion in France for self-storage.

UPP operates four centres, comprising 220,000 square feet
of  space  centrally located within the  Periphique.   It
currently has 145,000 square feet occupied which has been
achieved  in  under two years.  A further site  is  under
development covering 50,000 square feet.

The  consideration  will  total  approximately  FFr  100m
(£9.3m),  of  which  approximately  FFr  35m  (£3.3m)  is
represented  by existing debt.  Revenues are expected  to
exceed FFr13m (£1.2m) in year ending 30 September 2000.

Mentmore  Abbey,  the UK market leader  in  the  personal
storage  market,  has  also  acquired  eleven  other  new
centres  since the beginning of the year,  six  of  which
were a result of the £27.5 million acquisition of British
Self-Storage in June.  The acquisition of UPP will assist
Mentmore  Abbey in becoming the leading operator  in  the
European  personal storage market-place,  increasing  the
total number of existing centres to 36.

Nick Smith, Chairman of Mentmore Abbey, said:
'UPP  has  an  established  trading  history,  a  large
presence   in  the  French  market  and  a  very   strong
management team.  We consider the Paris market to be even
less  developed  than the UK market but  holding  similar
potential.   This  acquisition  signals   our   continued
commitment  to accelerate development of our self-storage
business and expansion into Europe.'

Kim  Taylor-Smith,  Chief Executive  of  Mentmore  Abbey,
said:
'Following  our  investment in British Self-Storage  in
June  and our own opening programme, this means  that  we
have  now added over 1.1 million square feet since 1  May
2000.  We  are convinced that the existing management  at
UPP  have  the potential to build a substantial  presence
for us in the French market. By US standards, Paris alone
could support 800 centres.'

For further Information please contact:
Mentmore Abbey plc                      020 8946 3159
Nick Smith, Chairman
Kim Taylor-Smith, Chief Executive
Clive Drysdale, Finance Director

Buchanan Communications                 020 7466 5000
Charles Ryland / Catherine Miles