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RNS Number:7795C
Warner Estate Holdings PLC
09 September 2004


                           Warner Estate Holdings PLC

                            CHAIRMAN'S AGM STATEMENT

Speaking at today's Annual General Meeting of Warner Estate Holdings PLC
("Warner Estate"), the property investment company, the Chairman, Philip Warner
made the following statement,

" I am pleased to report that we are making encouraging progress during the
current financial year. We are building on the foundations laid during the
previous two years, one of the busiest periods in the history of Warner Estate.
Having established four specialist property funds with our co-investors, we now
manage close to #1 billion of property assets following the further acquisitions
and disposals made during the current year.

" We are now embarking on another important phase of our strategy. As already
indicated to shareholders, we intend to increase our development capability
through an alliance which brings us the skills and experience of proven experts,
devoted to managing major property developments. I am delighted to announce
that, this morning, we have agreed to form a close partnership with property
development company Bride Hall.

" Bride Hall has an excellent reputation for managing the delivery of major
complex property developments. We have high hopes for the partnership through
which we shall work together to source and fund major new development schemes.

" Since the announcement of our final results in June, we have continued to make
significant progress in the management of the funds. Agora, our #293m joint
venture with Bank of Scotland, has recently received planning permission for a
major refurbishment project at Preston and I am sure that our partnership with
Bride Hall will ensure we take full advantage of this opportunity.

" We are proud of our 33 years of unbroken dividend growth and the Group is well
placed for the future. The Board is confident our experienced team will ensure
continuing progress."

                                     -ends-

Date: 9 September 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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