Serviced Office Group plc

Appointment as Property Manager

Service Office Group plc ("SOG" or the "Company") is pleased to announce that it has been appointed to manage a business centre in Broadgate, adding an additional 585 workstations to the group, bringing the total number of managed workspaces to 3,693.

The Broadgate management contract enables SOG to offer financial services work space and support as well as improved conference and meeting room facilities across a wider range of locations to the benefit of our clients. The board of SOG believe that financial services companies represent a significant opportunity for the Company going forward.

SOG now operates from 19 offices. Albert Embankment *, Bournemouth, Bromley, Bristol, Broadgate *, Beckenham, Cannon Street *, Canary Wharf *, Crawley, Chiswick ,Hemel, Hayes, Harrow, Kingston, Teddington, Marlow, Uxbridge, St Paul's/Blackfriars * and Richmond,

* denotes a London location.

Michael Kingshott, Chairman, comments:

"We have had a busy year as we reposition the group's activities by adapting to the ever increasing demand for the provision of managed services for building owners and leaseholders who benefit from our management skills in securing tenants for what may otherwise be empty buildings thereby generating significant revenues on their behalf for which we receive a management fee.

We are delighted to add Broadgate to the locations now available to our business occupiers.

We have seen an increased awareness by both landlords and large corporates who have surplus space that requires managing in a difficult market. Our serviced office managed solution provides a good income stream enabling both landlords and leaseholders to offset their holding and operating costs.  

The Group continues to seek further expansion opportunities in order to increase its geographical spread through the acquisition of, and management of, business centres, utilising its management expertise to reduce running costs and enhance performance."

22nd December 2009

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