1

Workspace Group PLC

RANDSTAD REIS LONDEN 2006/STUDY TOUR LONDON

Regeneration in London:Comprehensive View and Incremental

ApproachesHarry Platt, Chief Executive

Workspace Group PLC

23 June 2006

2

The Business – Hotelier of Space to SMEs

To achieve profit and capital growth from:

• Providing workspace to SMEs in London

• Investing in properties with potential- Income growth- Capital growth- Alternative use

• Increasing scale of portfolio, spreading overheads and developing the brand

• The right financial platform

3

“ We provide affordable, flexible space for new and small businesses in London and the South East ”

• c.4,000 customers over 105 estates; 5.8 million sq .ft

• Over 6,600 enquiries a year; market leading brand in fragmented market

• A simple product offer

• Superior service from in-house management

• Customer focused

The Business – Hotelier of Space to SMEs

4

Ten Year Results

Five Year Ten Year

Compound Growth Compound Growth

Adjusted NAV per share 20.9% 21.9%

Property at Valuation 21.3% 22.6%

Trading PBT 9.9% 13.8%

Trading EPS 10.2% 13.0%

Dividend per share 10.2% 11.2%

5

History Growth in assets and shareholder value

• Founded in 1987

• Listing on London Stock Exchange 1993

• Last equity issue 1994

• Now: Gross Assets over £950 million

6

Our Buildings

Westminster Business SquareThe Leathermarket

7

Our Buildings

Westbourne - external Westbourne – Internal

8

Our Buildings

The Quadrangle, SW6 Southgate Office Village, N14

9

Our Buildings

Southbank House, SE1Homesdale Business Centre, Bromley

10

Changing Environments

11

Dynamic Environments

12

Customer Profile

Median % of median

turnover Year of start 1996 —

Turnover £250,000 —

Overheads £90,000 36

Profits £40,000 16

Rent £12,000 4.8

Typical Workspace tenant*:

Rent under 5% of turnover

Average rents at 31 March 2006: £9.58 per sq. ft

Average customer in say 1,100 sq.ft.

Average rent per week £203

*Source: Kingston University survey of over 200 customers. Spring 2004

13

Our Customers

14

Total Percentage of Customers by DTI Categories

DTI Classification of Tenants

12% 1%

2%

1%

6%

18%

45%

10%

5%

Manufacture

Retail

Cons truction

Utilities /Infras tructure

Organisations

Des ign & Creative

Services

Storage & Dis tribution

Unclass ified

15

Workspace Group portfolio 2005/06

16

New Plan: Continue to grow Shareholder Value

How?

• Our growing market place of SMEs

• Targeting areas

• Rental growth

• Refurbishments

• Mixed use intensification of sites

• Continuing acquisitions – where we see value

17

Focusing on Growth: London Dynamics

London is a global city

London is a growing city

Centre of finance – commerce – culture – knowledge – creativity – power and

influence

London’s population likely to grow by

800,000 to 8.1m by 2016

The working population will rise by 516,000

Net internal migration continues to run at

about 100,000 a year

18

Focusing on Growth: London SMEs

London is theSME incubator

• 1.07m employ 1 - 20 people

• 30% of these are in London and SE

• 85% of those businesses with employees in London have less than 10 employees

• In 2005, London accounted for 22% (87k) of all new business starts in the England and Wales

• London has the highest concentration of the fastest-growing and most productive business sectors in the UK

London is our Marketplace

19

Clusters e.g.The Southbank Portfolio

9

1. Kennington Park Studios, SW92. Westminster Business Square, SE113. Southbank House, SE14. Linton House, SE15. Great Guildford Business Centre, SE16. The Leathermarket, SE17. Enterprise Estate, SE18. Hatfield House, SE19. Tower Bridge Business Centre, SE16

Scale = 1:25000

20

21

Summary

Workspace – Leader in a Growing Marketplace Focused on long term sustainable growth