MWB Business Exchange open new centre at 133 Houndsditch - 22.05.2009

MWB Business Exchange Plc, the UK's second largest serviced office provider, today announces it has signed an 11 year Operating and Management Agreement ("OMA") on 32,066 sq ft of a prestigious office development which is close to Liverpool Street and in the heart of the insurance district.

Located at 133 Houndsditch, EC3, the accommodation will be subject to a £2.93m refurbishment programme by the landlord and, on completion, will provide more than 350 workstations and an additional seven meeting rooms. It is anticipated the new Business Exchange centre will open in September 2009 and takes the Company's number of serviced office centres to 58 of which 20 are operated under OMAs.

This latest agreement reflects Business Exchange's stated strategy of focusing growth in Central London market while expanding the portfolio without exposing the company to either substantial capital expenditure or long term leases through OMAs.

John Spencer, CEO of MWB Business Exchange, comments "We are delighted to be working with Henderson Global Investors in helping with their aim to create a world class business centre facility at 133 Houndsditch. It will provide the building with a point of difference when marketing the adjacent office space as well as satisfying the ongoing demand for flexible office solutions."