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RNS Number:2011B
Warner Estate Holdings PLC
26 July 2004



                           Warner Estate Holdings PLC


                     WARNER ESTATE COMPLETES #12.6 MILLION

                               OF PROPERTY SALES


Warner Estate Holdings PLC ("Warner Estate"), the property investment company,
has today announced that it has sold four of its smaller properties for an
aggregate total of #12.6 million. The properties were located at Blackpool,
Durham, Falmouth and Swindon.



Warner Estate has sold the properties, three of which were held in its Trading
Portfolio, because it is concentrating on sourcing larger property assets,
suitable for the four property funds which it manages and in which it
co-invests.



The disposals were all agreed at prices in excess of their March 2004 book
value.



Commenting on these transactions, Richard Moore, Property Director at Warner
Estate said,



" All of these four smaller properties from our portfolio have generated a
useful surplus. In the short-term the proceeds from these disposals will be used
to reduce the Group's gearing.



" Looking forward, Warner Estate is increasingly focused on managing larger
assets in the four property funds, established with our financial partners."

                                     -ends-



Date: 26 July 2004

For further information contact:
Warner Estate Holdings PLC                               City Profile
Philip Warner, Chairman                                  Simon Courtenay
Richard Moore, Property Director                         Tel: 020-7448-3244
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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