Acquisition of Cambridge Research Park Site

Slough Estates PLC
5 April 2000

     SLOUGH ESTATES ACQUIRES CAMBRIDGE RESEARCH PARK


Slough  Estates  plc is acquiring the Cambridge  Research
Park development site immediately north of Cambridge.

The  park  has  a  gross area of 112  acres  including  a
wildlife  refuge.   It  has  planning  consent  for   the
development   of  570,000  sq.ft.  of  office   and   R&D
facilities, including a 73,000 sq.ft. office  pre-let  to
Cambridge  Cable,  which  is  also  being  acquired.   In
addition the site has outline consent for a hotel.

To  develop  the whole site could cost Slough  Estates  a
total  of  approximately £125 million which represents  a
significant  commitment  to one of  the  fastest  growing
regions  in the country.  Cambridge has become  Britain's
pre-eminent   research   and  development   centre   with
biotechnology,  IT and communications being  the  driving
force.

Derek Wilson, Chief Executive said:

'This new investment is consistent with Slough's strategy
of concentrating its development and investment resources
in  locations  which  are  attractive  to  modern  growth
industries, such as the Thames Valley where the Group has
over £1.6 billion invested and California where Slough is
the  leading  developer of research  facilities  for  the
rapidly  growing bio-science industry.  The  purchase  of
Cambridge  Research  Park is an exciting  opportunity  to
participate in the region's growth.'

For further information:

Derek Wilson, Chief Executive
Phil Redding, Business Development Manager
Slough Estates plc                 01753 537171

Andrew Best/Buster Cheetham
Shared Value Limited               0207 321 5010

Slough Estates Web Site            www.sloughestates.com