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RNS Number:3797K
Warner Estate Holdings PLC
31 March 2005



                      Warner raises #13.8m in cash placing


Warner Estate Holdings plc (the "Company") today announces a placing for cash of
2,547,738 new Ordinary Shares, representing 5 per cent. of the existing issued
ordinary share capital of the Company, at a price of 540p per share to raise
gross proceeds of approximately #13.8 million (#13.6million net of estimated
expenses) (the "Placing").   The Placing is fully underwritten by HSBC.


The proceeds of the Placing will be used to part finance the recommended cash
offer for Ashtenne Holdings plc ("Ashtenne").   Full details of this offer are
outlined in the rule 2.5 announcement released this morning.


Application is being made for the new Ordinary Shares to be admitted to the
Official List of the UK Listing Authority and to trading on the London Stock
Exchange's market for listed securities. It is expected that dealings will
commence in the new Ordinary Shares on 5 April 2005. The new Ordinary Shares to
be issued pursuant to the Placing will, when issued, rank pari passu with the
existing Ordinary Shares including the right to receive all dividends or other
distributions hereafter declared, made or paid in respect of the ordinary share
capital of the Company. The new Ordinary Shares will initially be issued in
uncertificated form through the CREST system.




Enquiries


Warner Estate Holdings plc
Peter Collins                                                 020 7907 5100


HSBC Bank plc
Heraclis Economides                                           020 7991 8888



The offer for securities in the Company has not been made, directly or
indirectly, in or into the United States, Canada, Australia, the Republic of
Ireland or Japan.  Accordingly, copies of this press release are not being and
must not be mailed or otherwise distributed or sent in or into or from the
United States, Canada, Australia, the Republic of Ireland or Japan and persons
receiving this press release (including custodians, nominees and trustees) must
not distribute or send it into or from the United States, Canada, Australia, the
Republic of Ireland or Japan.



HSBC Bank plc which is regulated and authorised by the Financial Services
Authority is acting exclusively for the Company in connection with the Placing
and will not be responsible to any other person or persons for providing the
protections afforded to customers of HSBC or for giving advice in relation to
the Placing or the contents of this announcement. In acting for the Company,
HSBC has relied on information provided to it by both the Company and the
Directors.


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

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