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4 November 2009

Rugby Estates Plc 

('Rugby Estates' or the 'Company')

Property Disposals & Further Return of Capital

Rugby Estates is pleased to announce the sale of two industrial properties for £5.01 million to clients of CBRE Investors. The properties, which were valued at £4.57 million as at 31 July 2009, are located in Cranleigh, Surrey and Acton, London W3. 

These disposals represent the latest step in the Company's strategy to concentrate on its asset management business and to return capital realised on the disposal of its property portfolio to shareholders. Accordingly, the Company intends to make a further return of capital to shareholders of not less than 40 pence per ordinary share within the next few months.  A further announcement regarding this will be made in due course.

Commenting, David Tye, Chairman, said:

"These sales are a further step in our orderly disposals process over the next 3 to 5 years and part of our strategic move to re-position Rugby Estates as an asset management business. The two fully let industrial properties were sold at a significant premium to the last reported valuation. The subsequent return of capital will bring the cumulative amount returned to shareholders since the announcement of this initiative in December 2008 to at least 102.5 pence per currently issued ordinary share."

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For further information please contact:

Rugby Estates                              +44 (0) 20 7016 0050 

David Tye                                        www.rugbyestates.plc.uk

Andrew Wilson

Fairfax I.S. PLC                             +44 (0) 20 7598 5368

Simon Bennett
Jeremy Porter

Financial Dynamics                        +44 (0) 20 7831 3113
Dido Laurimore

Rachel Drysdale

Laurence Jones

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