CLS Holdings Regulatory News (CLI)

17 Jul 2006 07:00

Release date: 17th July 2006Embargoed until: 07:00 CLS HOLDINGS PLC ("CLS") SIGNS NEW LEASE WITH BANQUE DE FRANCE IN PARIS The Board of CLS is pleased to announce on behalf of its wholly ownedsubsidiary Citadel Holdings plc that Banque de France has agreed to renew itslease for a further nine year period, without a break, for 48, rue Croix desPetits Champs in Paris.Banque de France is the sole tenant of this 1,800 sq m (19,375 sq ft) buildinglocated in the heart of Paris next to Place des Victoires. The new lease wascompleted with effect from the 1st April 2006 at an annual rent of ¢â€š¬866,029 (‚£600,158) corresponding to ¢â€š¬481 per sq m (‚£30.97 per sq ft) plus annualindexation.This building was purchased in 1998 for a price of ¢â€š¬8,887,778 (‚£6,159,230) andwas valued at ¢â€š¬12,560,000 (‚£8,704,080) as at 31st December 2005.Executive Chairman of CLS, Sten Mortstedt, commented:"I am pleased that Banque de France has renewed its lease on a long term basis.We believe that this is, in part, a reflection of our efforts to maintain closeworking relationships with our tenants for our mutual benefit." - ends - For further information, please contact:Sten Mortstedt, Executive ChairmanPer Sjƒ¶berg, Chief Executive OfficerPhilippe Alexis, Director French OperationsCLS Holdings plcwww.clsholdings.comTel. +44 (0)20 7582 7766www.citadelservices.comTel. +33 (0)1 53 57 40 70Adam Reynolds /Ben SimonsHansard CommunicationsTel. +44 (0)207 245 1100ENDCLS HOLDINGS PLC