Successful Letting of New HQ Office Building

Cardiff Property PLC 3 February 2000 SUCCESSFUL LETTING OF NEW HEADQUARTERS OFFICE BUILDING IN SURREY TO RETAIL DECISIONS PLC Cardiff Property is pleased to announce that First Choice Estates Plc, a wholly owned subsidiary, has completed the letting of its new headquarters office building known as 'The Clock Tower' at Brookwood, Surrey to Retail Decisions plc. First Choice acquired the property in August 1997 and following a revision of the existing planning permission commenced the development of a new 16,000 sq ft net office building. The Clock Tower, situated between Guildford and Woking, stands in approximately 1 acre of landscaped grounds and provides over 80 car parking spaces. The opportunity exists for a further 3,000 sq ft net office space subject to planning. Retail Decisions will use the building for its rapidly growing UK operation which provides transaction services to many blue chip retailers including the fast growing e-commerce arena. The building has been let on an institutional lease for a term of 20 years at a rental of £390,000 per annum. Further information Richard Wollenberg Chairman 01784 437444 Will Martin Albert E Sharp Securities 020 7489 4600 Brian Coleman-Smith Binns & Company 020 7786 9600