Re Joint Venture- Replacement

RNS Number:7944J
Warner Estate Holdings PLC
02 October 2006


                           Warner Estate Holdings PLC

This announcement replaces the earlier re joint venture announcement 7811J
released at 11.18 am on 2nd October 2006. The earlier announcement should have
read that the joint venture is Between Warner Estate and Barclays Capital and
not Barclays Bank.  The announcement has been amended and is repeated in full
below.




               WARNER ESTATE LAUNCHES GREATER LONDON OFFICE FUND

Warner Estate Holdings PLC ("Warner Estate"), the property investment and fund
management company, and Barclays Capital have today announced the launch of a
Greater London office fund.

The joint venture between Warner Estate and Barclays Capital will invest in
office investments throughout London including the Greater London principal
boroughs.

The two City office properties Warner Estate purchased earlier this month for
#96million will be transferred into the fund. 55 Old Broad Street is a multi-let
office building totalling 98,477sq ft with retail on the ground floor. Central
House, Camperdown Street 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,

"We are delighted to form another joint venture with Barclays Capital following
the sale last year of our Bareway Industrial business with them to the Ashtenne
Industrial Fund.  This partnership reinforces our stated intention to invest
further in the Greater London office market. We are actively seeking further
investments across London where we can use our specialist skills to generate
high returns through active asset management."



                                    - ends -

Date: 2nd October 2006


For further information contact:

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
END

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