Warner Estate Holdings PLC 06 December 2005 Warner Estate Holdings PLC WARNER ESTATE ACQUIRES 50% STAKE IN INDUSTRIAL FUNDS LIMITED Warner Estate Holdings PLC ("Warner Estate"), the property investment company, has today, announced that it has acquired the outstanding 50% stake in Industrial Funds Limited ("IFL") from its partner Anglo Irish Bank. IFL was the joint venture vehicle created to acquire Ashtenne Holdings plc. Philip Warner, Chairman at Warner Estate commented: " Following the completion in June of the purchase of Ashtenne by IFL, we have made good progress with the disposal of surplus assets and I am delighted to be able to complete the successful integration of the Ashtenne Industrial Fund with this acquisition." - ends - Date: 6th December 2005 For further information contact: Warner Estate Holdings PLC cityPROFILE Philip Warner, Chairman Simon Courtenay Richard Moore, Property Director Tel: 020-7488-3244 Peter Collins, Finance Director Michael Stevens, Operations Director Tel: 020-7907-5100 Web: www.warnerestate.co.uk This information is provided by RNS The company news service from the London Stock Exchange