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RNS Number:6983D
Warner Estate Holdings PLC
12 September 2007


                          
                            Warner Estate Holdings PLC

                   WARNER ESTATE MAINTAINS POSITIVE MOMENTUM


In advance of today's Annual General Meeting, Warner Estate Holdings PLC
("Warner Estate"), the property investment and fund management company, makes
the following statement,


" As advised in our Interim Management Statement last month, Warner Estate has
made and continues to make encouraging progress in the current year, despite the
slow down in the property market and the nervous nature of the financial
markets. Whilst not ignoring current movement in these markets, we believe that
the fundamentals of property investment and development over the long-term
remain compelling.

" We continue to identify opportunities, both within the #3.2 billion of assets
which we manage and in the market place, with lease re-gearing, refurbishment or
development potential where our management skills enable us to generate positive
returns despite the increasing cost of funds brought about by the recent rises
in borrowing costs. Since our Interim Management Statement on 13th August, we
have made two further sales totalling #7.3 million which again were sold at
prices above their 31st March values and we have a number more in solicitors'
hands which are also being sold at prices ahead of their 31st March book value.

" The #1.8 billion of assets managed by the fund management business continue to
perform well with the Apia Regional Office Fund completing a #2 million
refurbishment at 225 Bath Street, Glasgow and the Ashtenne Industrial Fund
gaining planning consent for 75,000 sq ft of industrial development at Tameside,
Manchester. Apia has also raised additional equity since 31st March increasing
the number of investors in the fund to 13.

" In our #350 million development programme, our major retail project in
Folkestone, the 200,000 sq ft Bouverie Place shopping centre, is due to open in
early November 2007, and is now more than 90% pre-let. In Bolton, our 100,000 sq
ft redevelopment of Market Place, jointly owned with Bank of Scotland, is
progressing well with H&M and Zara as anchor tenants and is expected to complete
towards the end of 2008.

" This activity is funded through debt and equity and the Group's debt
facilities are all of a long term nature and do not rely on the CMBS market. The
joint ventures are over 90% hedged and the funds are also well protected. The
Group has, as previously reported in our results to 31st March 2007,
substantially reorganised its borrowing facilities so as to provide it with more
flexible and cheaper sources of funds. Towards the end of last year, a #150
million cap at 6.25% effective from the end of June 2007 was put in place at a
cost of #0.9 million together with two callable swaps of #25 million each, the
first at 4.34% from 31st March 2007 and the second at 4.16% from 31st March
2008. These financial products will reduce the impact of the recent sharp rise
in money market interest rates and have a real value in excess of their current
book cost.

" The Board is confident that the right strategy is in place. Whilst uncertainty
continues in the wider market, opportunities are expected to increase for the
Group to acquire property where value can be added. Shareholders will be updated
further on progress when our interim results are announced later this year."


                                    -ends-


Date: 12th September 2007
For further information contact:

Warner Estate Holdings PLC                        cityPROFILE
Philip Warner, Chairman                           Simon Courtenay
Peter Collins, Finance Director                   Tel: 020-7448-3244
Michael Stevens, Property 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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