Warner Estate Holdings PLC 12 May 2005 Update on Property Strategy Warner Estate and its property funds have made a number of purchases from Morley in recent years and have established a dialogue through these transactions. One result of this dialogue has been a discussion about the establishment of a regional office fund. Good progress has been made in the last few weeks that could lead to a £250m fund being launched. -ends- This information is provided by RNS The company news service from the London Stock Exchange