Serviced Office Group plc ("SOG" or the "Company")

Completion of Consort Property Holdings Acquisition

The board of SOG (the "Board") is pleased to announce that it has acquired the shares not currently owned by SOG in Consort Property Holdings Limited ("Consort"). Consort is now 100 per cent. owned by SOG. 

As set out in the announcement on 27 August 2009 SOG entered into an option arrangement with Sir Tom Farmer under which the Company was entitled to acquire Maidencraig Consort Limited ("MCL") from Sir Tom Farmer. MCL was a special purpose vehicle that acquired 50 per cent. of Consort. SOG has now exercised its option to acquire Consort at a cost of £175,000. The acquisition has been funded by an overdrawn extension provided by the Company's debt providers. 

Following completion of the Consort acquisition Michael Kingshott, Chairman of the Company, and Mr Peter O'Reilly, a major shareholder in the Company, have converted unsecured loans with the Company totalling £130,000 at 2.50 pence per share being the average mid-market price over the past seven days. 

Following this conversion, Mr Kingshott is interested in 25,495,434 ordinary shares of 1p each ("Ordinary Shares") in the Company, which represents approximately 27.71 per cent. of the enlarged total issued share capital. 

Application will be made to the London Stock Exchange for the 5,194,063 Ordinary Shares to be admitted to trading on AIM. It is expected that such Admission will become effective and that dealings will commence on 14 December 2009. 

8 December 2009