Cannon Street - new centre increases city coverage - 08.03.2006

MWB Business Exchange Plc today announces it has agreed terms to acquire a 15 year lease on a 34,000 sq ft office building in Cannon Street, London EC4, which will provide a further 255 workstations at this prominent City location.

Acquired from ING, the financial services company, the purchase represents a continuation of Business Exchange’s planned expansion programme since listing on AIM in December 2005.

Business Exchange is paying an initial £37 a sq ft for the entire space. The first floor, amounting to approximately 6,500 sq ft, is sub-let to a US legal firm that has agreed a new two year lease from the end of March 2006 at a rent of £42 a sq ft, payable to Business Exchange, with a mutual rolling break clause after year one.

Also Business Exchange plans to convert the entire top floor of 5,500 sq ft into its conference and meeting room offer. The Company anticipates the new centre will be open by the end of April 2006.

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.