Warner Estate announces that, on 11 May 2012, it exchanged contracts for the sale of 60 New Broad Street, London EC2 for a cash consideration of £28.624m to RREEF Spezial Invest, who were acting on behalf of RVK Europa. The sale is due to complete on 18 May 2012. The property had a book value of £28.9m as at 30 September 2011 and contributed £0.5m of net annual rent in the year ended 31 March 2011. The net proceeds from the sale of £27.844m will be utilised to reduce the Group debt.

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Date: 14 May 2012

For further information contact:
Warner Estate Holdings PLC
Philip Warner, Chairman
Mark Keogh, Group Managing Director
Robert Game, Group Managing Director, Property
Tel: 020 7907 5100


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