Expands City presence with two further acquisitions bringing an additional 53,000 sq ft of space - 31.05.2007

MWB Business Exchange Plc (“Business Exchange” or “the Company”), the AIM-listed second largest provider of contemporary flexible office in the UK, today announces the acquisition of two further City of London centres as part of its stated expansion programme, adding a further 53,000 sq ft to its inventory.

These latest acquisitions take the number of Business Exchange centres to 56, and increase the number of workstations to over 15,000.  It expands the floor space to almost 1m sq ft. The acquisitions will also strengthen Business Exchange’s meeting and conference room offer.

At 55 Old Broad Street, London EC2, Business Exchange has taken a 10 year lease from Warner Estates Holdings plc on 34,322 sq ft of space providing 410 workstations as well as a number of dedicated meeting and training rooms. The building is next toLiverpool Street Station.

Business Exchange has formed a joint venture with PRUPIM following a competitive tender, to create a 18,500 sq ft serviced office centre in the landmark City Tower building at Basinghall Street, EC2 on a profit share basis. The Company was approached directly by PRUPIM as a result of the successful Citigroup joint venture formed two years ago at Canary Wharf.  City Tower centre, located close to Moorgate tube station, will provide a further 220 workstations.
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Contact:
 John Spencer, Chief Executive, Business Exchange. Tel: 020 7479 9300
 Baron Phillips, Baron Phillips Associates.  Tel: 020 7920 3161
Capel Irwin, KBC Peel Hunt    Tel: 020 7418 8900

John Spencer, Chief Executive of Business Exchange, said: “These two acquisitions form part of our current expansion programme and reinforce our commitment to creating strong, sustained growth in the serviced office market.

“The acquisitions reflect our strategy of acquiring centres in prime business locations. The City is probably the world’s most dynamic and vibrant business environment, and these two new centres enable us to take advantage of the area’s growth and demand for high quality serviced office accommodation.”

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.