Sale of Industrial Estates and Potential Return of Capital

Released: 29/10/2004

Helical Bar has exchanged contracts to sell its industrial assets at Newton Aycliffe and Peterlee, County Durham to Carisbrooke Suon Limited Partnership for a total cash consideration of £67.6 million (a price above last reported book values). The estates comprise 2.2 million square feet of industrial and office space together with 60 acres of land and ground rents producing a net income of £5.275 million per annum. Completion is scheduled for 23 November 2004.

As a result of the sale and its impact on the Company’s gearing, Helical is considering a structured return of capital to shareholders. A further announcement will be made in due course, as appropriate.

Contact:
Michael Brown	Investment Director	Helical Bar plc
		Tel. 020 7629 0113
		Email: pmb@helical.co.uk
Nigel McNair Scott	Finance Director	Helical Bar plc
		Tel. 020 7629 0113
		Email: nms@helical.co.uk
Stephanie Highett/		Financial Dynamics
Dido Laurimore		Tel. 020 7831 3113