RNS Number:0429I
Estates & General PLC
27 February 2003

                               ESTATES & GENERAL

                    IN #21M LONDON OFFICE PROPERTY DISPOSAL


Following the earlier announcement of record results for the year ended 
31 December 2002, Estates & General PLC, ("Estates & General") the strategic
property investment company, has today announced that it has sold its office
buildings at Regents Wharf, Kings Cross, London for a sum of #20.70 million. The
buildings comprise 66,000 sq. ft of office space adjacent to the Regents Canal
and close to Kings Cross mainline station. The main tenant is Wolff Olins, the
leading brand consultancy, which is a subsidiary of the Omnicom Group. The rent
passing was #1.68 million per annum. The proceeds from the disposal will be
utilised to reduce the Group's debt.

Part of Estates & General's interest in these buildings was held in the
investment portfolio and disposed of at book value as at the year end valuation.
The remainder was held within the trading portfolio and will result in a surplus
over cost of #0.30 million.

Roger Dossett, Managing Director of Estates & General commented,

" Regent's Wharf represented our main holding in central London. The buildings,
which were developed in the early 1990s, are well let to an excellent range of
tenants and offer a good income profile. However, our strategy is to sell assets
where the opportunity to add further value is limited in the short to medium
term. This sale releases additional resources that will be re-invested in
property that provides further opportunity to deliver increased shareholder
return."

                                     -ends-

Date: 27 February 2003

For further information contact:

Roger Dossett, Managing Director           Estates & General PLC    01923-285999

Phil Holland, Finance Director             Estates & General PLC    01923-285999

e-mail: info@estates-general.co.uk

Web: www.estates-general.co.uk


Simon Courtenay                            City Profile Group      020-7448-3244

Ed Senior                                  City Profile Group      020-7448-3244

e-mail: simon.courtenay@city-profile.com


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            The company news service from the London Stock Exchange
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