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Caledonia Inv PLC (CLDN)

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Wednesday 11 August, 2004

Caledonia Inv PLC

Completion of transaction

Caledonia Investments PLC
11 August 2004

Sale of 1.3 million shares in Kerzner International Ltd

Caledonia Investments plc ('Caledonia') confirms that the sale of 1.3m shares in
Kerzner International Ltd, the resorts developer and operator, announced on 16
July 2004, has now been completed.

The proceeds from the sale, amounting to approximately £33.6m, will be used for
general corporate purposes, including the repayment of Caledonia's existing bank
borrowings.  Caledonia will be reducing its committed term bank facilities by
£30m to £70m.

                                                                  10 August 2004


Caledonia Investments
    Tim Ingram, Chief Executive                  020 7802 8080

College Hill
    Tony Friend                                  020 7457 2020
    Richard Pearson

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