Tonbridge Lease

BEALE PLC ("Beale" or "the company")

Tonbridge lease

Beale plc announces that its principal trading subsidiary, J E Beale plc (J E Beale), has signed a conditional agreement with Sainsburys which may give rise to the possible future surrender of the lease of its Tonbridge store. On signing of the agreement, J E Beale receives £1,000,000.

The transaction is conditional on certain pre-conditions being satisfied within a 6 year period. If these conditions are satisfied then J E Beale will be obliged to surrender the lease of its Tonbridge store to Sainsburys. Upon completion J E Beale would receive a surrender premium of up to £3,000,000.