Further expansion through Baker Street lease acquisition - 18.12.2006

MWB Business Exchange Plc (“Business Exchange” or “the Company”) today announces that it has acquired a 20-year lease on a 27,727 sq ft office building in Baker Street, for its latest five-star Central London serviced office offering.

Business Exchange has leased the entire six storey Grade A office building at 83 Baker Street which will provide a further 350 workstations as well as 5 meeting and conference rooms with capacity for up to 30 delegates following a £2.7m fitting-out programme.

This latest acquisition will take the overall number of Business Exchange centres to 55 and expand its presence in the fast growing Central London market to 22 centres. During the course of this year the Company has acquired or opened 5 new central London centres, including Cavendish Square, Euston Fitzrovia, London Wall, Cannon Street and London Bridge.

John Spencer, Business Exchange Chief Executive, said: “The acquisition of 83 Baker Street marks the end of a 10 month search in this area. I believe the building will be a fantastic new addition to our five-star serviced office portfolio.”

It is anticipated that the new Baker Street centre will open in March 2007.

Business Exchange was advised by Savills and the landlords, Lazari Investments Ltd, acted for themselves.

MWB Business Exchange Plc provides five star Serviced Offices operating a portfolio of over 1,500,000 sq ft of prime office Space throughout the UK, Meeting Venues with over 250 meeting rooms, and Virtual Offices.