CLS Holdings Regulatory News (CLI)

2 Feb 2006 07:00

Release date: 02 February 2006Embargoed until: 07:00hrs CLS HOLDINGS PLC ANNOUNCES SALE OF Lƒâ€"VGƒâ€žRDET, SWEDEN The Board of CLS Holdings plc ("CLS") is pleased to announce that it has soldthe whole of its mixed residential and commercial complex at Lƒ¶vgƒ¤rdet,Gothenburg for a total price of SEK547 million (‚£40.5 million).These properties were purchased by CLS for SEK440 million (‚£29.4 million) inJanuary 2002 and were valued at 30 June 2005 at SEK550 million (‚£38.9 million).This transaction reflects the Group's intention to concentrate on office andcommercial investments.Executive Chairman, Sten Mortstedt, commented:"We have taken care to have chosen Stena Fastigheter AB who is a highlyprofessional landlord, as the purchaser. They own a substantial portfolio ofproperty in the area and we trust this will be of substantial lasting benefitto the tenants of Lƒ¶vgƒ¤rdet." -ends- For further information, please contact:Sten Mortstedt, Executive ChairmanPer Sjƒ¶berg, Chief Executive OfficerDan Bƒ¤verstamCLS Holdings plcwww.clsholdings.comTel. +44 (0)20 7582 7766Ben SimonsHansard CommunicationsTel. +44 (0)20 7245 1100ENDCLS HOLDINGS PLC