Compulsory Acqn of Shares

RNS Number:3433T
Warner Estate Holdings PLC
20 March 2007

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR
FROM THE UNITED STATES OR ANY RESTRICTED JURISDICTION

20 March 2007



                  WARNER ESTATE HOLDINGS PLC ("WARNER ESTATE")

              RECOMMENDED CASH OFFER FOR JS REAL ESTATE PLC ("JS")



                COMPULSORY ACQUISITION OF OUTSTANDING JS SHARES

On 14 March 2007 Warner Estate announced that the recommended cash Offer to
acquire the entire issued and to be issued share capital of JS had been declared
unconditional in all respects.

As at 1.00 p.m. on 19 March 2007, the latest practicable date prior to the
making of this announcement Warner Estate had received valid acceptances in
respect of 15,563,617 JS Shares, representing 95.57 per cent. in value of the JS
Shares.

Consequently, Warner Estate is today implementing the procedure under sections
428 to 430F of the Companies Act 1985, as amended, to compulsorily acquire all
of the outstanding JS Shares which it does not already hold or has not already
acquired, contracted to acquire or in respect of which it has not already
received valid acceptances.

The Offer for the entire issued and to be issued share capital of JS, as set out
in the Offer Document, will remain open for acceptance until further notice.

The definitions set out in the Offer Document dated 20 February 2007 have the
same meanings in this announcement.

Enquiries:

Warner Estate                            Tel:  +44 (0) 20 7907 5100
Philip Warner
Peter Collins

Bridgewell                               Tel:  +44 (0) 20 7003 3000
Heraclis Economides
Rashmi Sinha

City Profile                             Tel:  +44 (0) 20 7488 3244
Simon Courtenay

This announcement is not intended to, and does not, constitute or form part of
any offer, invitation or the solicitation of an offer to purchase, subscribe for
or otherwise acquire, sell or dispose of, any securities pursuant to the Offer
or otherwise. The Offer is made solely by the Offer Document and the Form of
Acceptance which contain the full terms and conditions of the Offer, including
details of how the Offer may be accepted.

Bridgewell Limited, which is authorised and regulated in the United Kingdom by
the Financial Services Authority, is acting exclusively for Warner Estate and
no-one else in connection with the Offer and will not be responsible to anyone
other than Warner Estate for providing the protections afforded to clients of
Bridgewell nor for giving advice in relation to the Offer or any matter or
arrangement referred to in this announcement.

This announcement has been prepared in accordance with English law, the Takeover
Code and the AIM Rules and information disclosed may not be the same as that
which would have been prepared in accordance with the law of jurisdictions
outside England.

The Offer is subject to the applicable rules and regulations of the Financial
Services Authority, the London Stock Exchange and the Takeover Code.  The
distribution of this announcement in jurisdictions other than the United Kingdom
and the availability of the Offer to JS Shareholders who are not resident in the
United Kingdom may be affected by the laws of relevant jurisdictions. Therefore,
any persons who are subject to the laws of any jurisdiction other than the
United Kingdom or JS Shareholders who are not resident in the United Kingdom
will need to inform themselves about, and observe, any applicable requirements.

Unless otherwise determined by Warner Estate or required by the Takeover Code
and permitted by applicable law and regulation, the Offer is not being, and will
not be made, directly or indirectly, in or into or by use of the mails of, or by
any other means or instrumentality (including, but not limited to electronic
mail, facsimile transmission, telex, telephone, internet or other forms of
electronic communication) of inter-state or foreign commerce of, or any facility
of a national, state or other securities exchange of, the United States or any
Restricted Jurisdiction, and the Offer will not be capable of acceptance by any
such use, means, instrumentality or facility, or otherwise from or within the
United States, or any Restricted Jurisdiction.

Any persons (including without limitation, any custodian, nominee and trustee)
who would, or otherwise intends to, or may have a contractual or legal
obligation to, forward this announcement, and/or the Offer Document, and/or any
other related document to any jurisdiction outside the United Kingdom should
inform themselves of, and observe, any applicable legal or regulatory
requirements of their jurisdiction.






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

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