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RNS Number:2851J
Warner Estate Holdings PLC
21 September 2006

                           Warner Estate Holdings PLC



             WARNER ESTATE STRENGTHENS ITS PRESENCE IN CITY OFFICES



Warner Estate Holdings PLC ("Warner Estate"), the property investment and fund
management company, has today announced the purchase of two City of London
office buildings from a private Canadian investor for #96.5 million. The
purchase price reflects a net initial yield of 5.2%.



The two properties, 55 Old Broad Street, EC2 and Central House, Camperdown
Street, E1, provide a combined current rental income of #5.13million. 55 Old
Broad Street is a multi-let office building totalling 98,477sq ft with retail on
the ground floor. Central House comprises 57,225sq ft of office space, which is
let in its entirety to Maersk Line UK, one of the world's largest ship owners.



Michael Stevens, Property Director at Warner Estate, comments,



"Our purchase of 24-26 Minories, EC3 earlier this year marked our re-entry into
the Central London office market. These two purchases reflect our stated
intention to increase our investment in this sector and to use our skills to
enhance returns through active asset management. We continue to look for more
similar stock in Central London"

                                    - ends -

Date: 21st September 2006


Warner Estate Holdings PLC                                     City Profile

Philip Warner, Chairman                                        Simon Courtenay
Michael Stevens, Property Director                             Tel: 020-7488-3244
Peter Collins, Finance Director
Tel: 020-7907-5100

Web: www.warnerestate.co.uk





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