Acquisition(s)

18th Apr 2005 06:00

Release date: Monday 18 April 2005Embargoed until: 07.00 CLS HOLDINGS PLC ("CLS") ANNOUNCES A NEW ACQUISITION IN SOLNA BUSINESS PARK The Board of CLS is pleased to announce that CLS has purchased a furtherbuilding in Solna Business Park, known as Yrket 3, at a total price of SEK 70million (‚£5.26 million) inclusive of costs.The property generates a net rental income of SEK 4,964,000 (‚£373,233) p.a.(SEK 811 psm (‚£5.67 psft)), 85% of which is secured until 2009. The return onequity based on a completed loan facility of SEK 50,250,000, interest only, is18.4% p.a.The property, comprising 6,118 sq m (65,855 sq ft) of offices, light industrialspace and archives plus 56 car parking spaces, was constructed in 1979. Itsacquisition will enable CLS to improve the access to its existing buildings atSolna Business Park which will particularly benefit its recently developedretail operations, including the ICA Maxi supermarket. In addition, CLSBelieves that the property has significant development potential in its ownright.Sten Mortstedt, Executive Chairman of CLS, commented:"I am very pleased with this further acquisition. We believe that the propertywill add value to our holdings at Solna Business Park." -ends- For further information, please contact:Sten Mortstedt, Executive ChairmanTom Thomson, Chief Executive & Vice ChairmanDan Bƒ¤verstam, Chief Financial OfficerCLS Holdings plcwww.clsholdings.comTel. +44 (0)20 7582 7766Ben SimonsHansard CommunicationsTel. +44 (0)20 7245 1100ENDCLS HOLDINGS PLC

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