CLS Holdings Regulatory News (CLI)

28 Jul 2009 07:00

Embargoed release: 07:00hrs 28 July 2009

CLS HOLDINGS PLC ("CLS") ANNOUNCES FURTHER LEASE RENEWALS AT CI TOWER, NEW MALDEN

The Board of CLS is pleased to announce the following in relation to CI Tower:

1. A lease renewal has been completed with London Grid for Learning Trust on the part 4th floor (245 sq m / 2,640 sq ft) for a term of five years with a tenant break option at the end of the 3rd year. The rent is 53,640 p.a. ( 219 psm / 20.32 psf) subject to one month rent free.

2. A lease renewal has been completed with Korea LNG Limited on the part 3rd floor (125 sq m / 1,350 sq ft) for a term of five years with a tenant break option at the end of the 3rd year. The rent is 29,700 p.a. ( 238 psm / 22 psf) with no rent free.

3. The June 2008 rent review has been settled with LaFarge Cement UK plc on the part ground floor (131 sq m / 1,405 sq ft) at 28,802 p.a. ( 220 psm / 20.50 psf), an increase of 15%.

CI Tower, which comprises 7,504 sq m (80,773 sq ft), is fully let apart from one small suite on the 4th floor extending to 95 sq m (1,025 sq ft), available through our letting agents Cattaneo Commercial at 242 psm / 22.50 psf.

Executive Chairman of CLS, Sten Mortstedt, commented:

"We are very pleased that we have been able to successfully renew these leases and achieve a good settlement on the rent review. They demonstrate the need to provide quality accommodation in good locations."

-ends-

For further information, please contact:

Sten Mortstedt, Executive Chairman

Henry Klotz, Chief Executive Officer

CLS Holdings plcTel. +44 (0)20 7582 7766www.clsholdings.com