1 Workspace Group PLC RANDSTAD REIS LONDEN 2006/STUDY TOUR LONDON Regeneration in London: Comprehensive View and Incremental Approaches Harry 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 YearCompound Growth Adjusted NAV per share20.9%21.9% Property at Valuation21.3%22.6% Trading PBT9.9%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 - externalWestbourne – Internal

8 Our Buildings The Quadrangle, SW6 Southgate Office Village, N14

9 Our Buildings Southbank House, SE1 Homesdale Business Centre, Bromley

10 Changing Environments

11 Dynamic Environments

12 Customer Profile 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

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 the SME incubator 1.07m employ 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, SW9 2. Westminster Business Square, SE11 3. Southbank House, SE1 4. Linton House, SE1 5. Great Guildford Business Centre, SE1 6. The Leathermarket, SE1 7. Enterprise Estate, SE1 8. Hatfield House, SE1 9. Tower Bridge Business Centre, SE16 Scale = 1:25000

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