Disposal

30 Mar 2009 09:34



Warner Estate Holdings PLC

("Warner Estate" or "the Group")

WARNER ESTATE ANNOUNCES £91M SALE OF PALLASADES SHOPPING CENTRE, BIRMINGHAM

Warner Estate Holdings PLC announces today that Agora Max Limited, a 50/50 Joint Venture with Halifax Bank of Scotland, has exchanged contracts for the sale of Pallasades Shopping Centre, Birmingham to Birmingham City Council for cash consideration of £91m. Completion is due on 31 March 2009. The proceeds of the sale will be utilised to reduce the debt within Agora Max Limited.

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Date: 30 March 2009

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