RNS Number:8698N
Warner Estate Holdings PLC
23 July 2003


                           Warner Estate Holdings PLC

                            CHAIRMAN'S AGM STATEMENT

Speaking at today's Annual General Meeting of Warner Estate Holdings PLC
("Warner Estate"), the property investment company, the Chairman, Philip Warner
made the following statement,

" I am delighted to report that, so far, the year has started well. We are
building on the significant momentum that we have created during the last
eighteen months. Indeed, I can confirm to our shareholders today that this
morning, we have announced the formation of our second major fund, a #109
million Regional Office fund launched in a joint venture with The Royal Bank of
Scotland.

" We now have created two large joint venture property funds which we manage. We
launched the #223 million Agora Shopping Centre Fund with our partners at the
Bank of Scotland in March.

" Looking to the future, it remains our strategy to seek property and partners
for further alliances and we are confident of achieving our target for the year
of #750 million of property under management. Warner Estate is in good health
and the prospects for the long-term development of the business are excellent."

                                     -ends-

Date: 23 July 2003

For further information contact:

Warner Estate Holdings PLC                                   City Profile
Philip Warner, Chairman                                      Simon Courtenay
Richard Moore, Property Director                             Tel: 020-7448-3244
Peter Collins, Finance Director
Tel: 020-7907-5100
Web: www.warnerestate.co.uk


                      This information is provided by RNS
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