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Your Space PLC (YSP)

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Wednesday 30 January, 2002

Your Space PLC

Acquisition

Your Space PLC
30 January 2002

For Immediate Release



                                                              30th January, 2002



                 YOUR SPACE PLC ('Your Space' or 'the Company')

          Acquisition of Workspace (North West) Limited ('Workspace')

The Board of Your Space announces it has exchanged conditional contracts to
acquire Workspace, a private company providing serviced office accommodation
from two freehold properties, West Midlands House, Willenhall and New Mount
Street, Manchester, for an aggregate consideration of approximately £1.76
million.  The consideration comprises approximately £897,000 in cash, £265,000
satisfied by the issue of 13,589,744 Your Space ordinary shares and £598,776
nominal of a new Your Space convertible loan stock ('CLS').

For the year ended 31st March, 2001, Workspace had rental income of £739,040,
profit before taxation was £81,119 and its net assets at that date were
£585,419.  The freehold properties are carried in the balance sheet at cost less
capital grants received. The directors of Your Space believe that their market
value was materially in excess of this figure.

This acquisition continues the directors' strategy of acquiring income producing
properties in areas of the UK where growing businesses have shown demand for
high quality flexible office space.

The CLS, which bears a coupon of 6.4 per cent per annum., payable half yearly in
arrears, becomes convertible or redeemable by the vendors six months after
completion, which is expected to be on or before 28th February, 2002 (by which
time the directors expect the condition to have been satisfied) and is
convertible in minimum amounts of £5,000 at the average mid-market price of Your
Space ordinary shares for the five dealing days preceding conversion, subject to
a minimum conversion price of 1.35p.  Alternatively, at the option of the
vendors the CLS is convertible by reference to a predetermined table of fixed
conversion prices as follows:

Period from completion                                  Price per ordinary share

6 to 12 months                                          five and a half pence
12 to 18 months                                         six pence
18 to 24 months                                         six and a half pence
24 to 36 months                                         seven and a half pence
36 to 48 months                                         eight and a half pence
48 to 60 months                                         nine and a half pence

Any CLS unconverted on the date five years after completion, will be redeemed
for cash at par.

Workspace has entered into a 12 month consultancy agreement with Mr John
Lancaster, one of its vendors, under which Mr Lancaster will receive £26,300.

The vendors of Workspace have undertaken not to dispose of any ordinary shares
arising from the conversion of the CLS for a period of six months following such
conversion and for a period of six months thereafter without the prior written
consent of John East & Partners Limited and Insinger Townsley, such consent not
to be unreasonably withheld or delayed.

For further details please contact:

Your Space PLC

Laurence Davis - Joint Managing Director                 Tel:    020 7409 7878
                                                         Mob:    07774 102 680
Anita Bevan - Operations Director                        Tel:    020 7323 3699

John East & Partners Limited
John East / Nandita Sahgal                               Tel:    020 7628 2200

Hansard Communications
Takki Sulaiman                                           Tel:    020 7735 9415
                                                         Mob:    07778 419218



                      This information is provided by RNS
            The company news service from the London Stock Exchange