Disposal

Workspace Group PLC
04 April 2003


                     WORKSPACE ANNOUNCES TRIO OF DISPOSALS


Workspace Group PLC ('Workspace'), the leading provider of flexible business
accommodation to small and medium sized enterprises ('SMEs') in London and the
South East, has today announced that it has completed two disposals and granted
an option for a third. All these transactions were completed before the
company's year end of 31 March 2003 and were agreed at values comfortably in
excess of book value.

The first disposal to be completed is of a small piece of land at the group's
Three Mills property in Bow, E3 to Copthorn Homes a subsidiary of Countryside
Properties PLC. The consideration is £2.55 million. This land was held in the
group's books at a value of £0.15 million.

The second disposal is of the Lea Road Trading Estate, a 61,000 sq ft industrial
estate in Waltham Abbey, Essex. The consideration is £2.35 million. The book
cost of this estate (including £0.1 million valuation surplus) was £2.2 million.

Workspace has also agreed to sell an option for the purchase of Payne Road
Studios, E2 at a price of £2.1 million. The option has been sold for £0.15
million. The property cost £1.17 million and is held in the company's books at a
value of £1.7 million.

Harry Platt, Chief Executive of Workspace, commented;

' I am delighted to report the completion of these three transactions. All of
these deals have been agreed at prices in advance of their carrying values in
the group's books. Our consistent performance in disposing of properties at a
profit illustrates the conservative values at which they are held.

' I am particularly pleased to conclude the sale of the Bridport site at Three
Mills. This is the first of what we anticipate will be a steady stream of
situations where we realize added value from our holdings through improved use
of the land.

' The other properties were part of the Tonex portfolio acquisition made in
1999. Following completion of the Payne Road deal, £16.1m of the original £82
million package will have been sold at a combined profit of £3.6 million (22% on
cost). The remaining £66 million of property was valued at 30 September 2002 at
£109 million.'

                                     -ends-

Date: 4 April 2003

For further information:

Workspace Group PLC                     City Profile Group
Harry Platt, Chief Executive            Simon Courtenay
Mark Taylor, Finance Director           Ed Senior
020-7247-7614                           020-7448-3244
e-mail: [e-mail]       e-mail: [e-mail]
web: www.workspacegroup.co.uk


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