Basil Street Hotel for latest centre - 18.06.2007

MWB Business Exchange Plc (“Business Exchange” or “the Company”), the AIM-listed second largest provider of contemporary flexible offices in the UK, today announces the acquisition of an entire 34,000 sq ft building in Knightsbridge for its latest central London centre.

Business Exchange has exchanged contracts to acquire the former Basil Street Hotel on a 10-year lease commencing in June 2008, following a complete refurbishment of the iconic 100-year-old building. The building, which is owned by Quinlan Private, forms part of a block above Knightsbridge tube station and runs from Basil Street to Brompton Road, and can be accessed from Sloane Street.

This latest acquisition forms part of the Company’s strategy to continue growing its presence within Central London and will take the total number of Business Exchange centres to 57. It is anticipated that once the extensive refurbishment is completed the building will provide a total of approximately 350 workstations taking Business Exchange’s total inventory to nearly 15,500. There will also be a number of meeting and conference rooms in the new centre.

Last week Business Exchange announced two more central London centres with the acquisition of a lease on 55 Old Broad Street, EC2 and a profit-sharing joint venture with PRUPIM for a centre in the landmark City Tower at Basinghall Street EC2.

Contact:
 John Spencer, Chief Executive, Business Exchange. Tel: 020 7706 2121
 Baron Phillips, Baron Phillips Associates,  Tel: 020 7920 3161
 Capel Irwin, KBC Peel Hunt.    Tel: 020 7418 8900

Commented John Spencer, Chief Executive of Business Exchange: “This is our first Knightsbridge centre but forms part of our Central London expansion strategy to provide high quality centres in prime business locations where there is known demand for the style of flexible office space which we are successfully providing for our fast-growing client base.”

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.