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RNS Number:9108J
Warner Estate Holdings PLC
03 October 2006


                           Warner Estate Holdings PLC

               RADIAL DISTRIBUTION MAKES #41.7MILLION ACQUISITION


Warner Estate Holdings PLC ("Warner Estate") has today announced, on behalf of
the Radial Distribution Fund ("Radial"), its joint venture with Bank of
Scotland, the acquisition of the Howdens Joinery distribution warehouse at
Brackmills, Northampton, for #41.7m, reflecting a net initial yield of 5.94%.

The high-specification 483,000sq ft unit is let to MFI for 15 years, with an
annual rental income of #2.5million. This is Radial's second purchase in the
business park, having acquired the Immanis unit in Brackmills last year for
#8million.

Michael Stevens, Property Director at Warner Estate comments: "We are pleased
with this purchase of more stock on this well known distribution park and
continue to seek further opportunities for Radial close to major transport
intersections."

John Moran, Head of Bank of Scotland Joint Ventures said: "We are delighted to
continue the expansion of the Radial Distribution joint venture with our strong
partner Warner Estate."



                                    - ends -

Date: 3rd 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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