PRESS RELEASE BY MBD...

UK SERVICED OFFICES MARKET RESEARCH REPORT

RELEASED: APRIL 2008

After researching the UK serviced offices market development and taking into account various other factors the following conclusions can be drawn from MBD's report:

MARKET REVIEW 2003-2007:

The UK market for serviced offices is believed to have increased during each year of the review period, with annual growth rates oscillating between 3% and 5%. In 2007, the number of work stations is estimated to have reached 170 000, representing growth of 4% during the year and of 18% compared with 2003. Growth in 2007 is attributable to high demand for office space during the first part of the year due to a strong performance by the UK economy and in particular the London financial markets.

MARKET FORECAST 2008-2012:

The UK market for serviced offices is projected to demonstrate year-on-year growth throughout the forecast period ending in 2012. Marginal growth of 1% is projected for 2008, reflecting the anticipated possibility of an economic downturn during the year, which MBD believe would result in reduced demand for office space. The anticipated growth in 2008, is expected to be driven by companies leasing serviced offices on a short term basis rather then committing to a long term lease in a traditional office. During the remaining four years of the forecast period annual growth is expected to be between 2% to 3%. An overall increase of 11% compared with 2007, is projected to take the number of work stations to 188 000 in 2012. However any forecast of the serviced offices market made in the current set of economic conditions inevitably carries a greater level of uncertainty than would typically be the case.

NOTE TO EDITORS:

Market & Business Development Ltd specialises in business to business market research. The range of reports and industries in which we operate in constantly expanding (our portfolio comprises of more that 140 titles). All our reports are written by in-house market consultants.

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