CLI Cls Holdings Plc

    Release date: 6th September 2006

Embargoed until: 07:00

                           CLS HOLDINGS PLC ("CLS")                            

                    ANNOUNCES THREE NEW GERMAN ACQUISITIONS                    

The Board of CLS is delighted to announce the completion of a further three
acquisitions in Germany at a total consideration of Euro71,423,307 (�48,252,470)
inclusive of all costs. Two of the buildings are located in Munich and one in
Stuttgart.

The acquisition and financing of the Headquarters of BrainLab AG in
Feldkirchen, Munich, announced in January, has now been completed. The property
is a new development of a total of 16,100 sq m (173,299 sq ft) and 213 car
parking spaces, fully let to BrainLab on a 10 � year lease without breaks, with
an annual rent of Euro2,043,791(�1,380,754) and a rent free period of six months.
The total acquisition cost for this investment was Euro30,058,850 (�20,307,290)
with an annual return on equity, after the rent free period, of 14.3% financed
by a completed 7 year fixed interest rate loan facility of Euro24,200,000 (�
16,349,142).

The property known as Maximillian Forum is located in Planegg, Munich. The
property was constructed in 1995 and comprises 13,906 sq m (149,683 sq ft) of
offices and 232 car parking spaces. The property is fully let to various
tenants with two anchor tenants, Gambro and MedieGene, and generates a total
annual rent of Euro2,035,189 (�1,374,942). The total acquisition cost for this
investment was Euro29,322,257 (�19,809,942) including all costs. The annual return
on equity is 13.1%, based on a completed fixed 5 year fixed interest rate loan
facility of Euro21,000,000 (�14,187,272).

The property known as Step 9 is located in Stuttgart Engineering Park,
Stuttgart. The property was constructed in 2004 and comprises 5,058 sq m
(54,444 sq ft) of offices, 174 sq m (1,873 sq ft) of storage and 59 car parking
spaces. The property is fully let to various tenants and generates an annual
rental income of Euro794,090 (�536,475). The total acquisition cost was Euro
12,042,200 (�8,135,522). The annual return on equity is 16.1% based on a
completed 5 year fixed interest rate loan facility of Euro 9,300,000 (�6,282,935).

Christian Holle of IAM has acted as consultant for CLS on all these
transactions.

Executive Chairman of CLS, Sten Mortstedt, commented:

"I am pleased with these further three acquisitions of properties in Germany.
CLS is making excellent progress into building up a portfolio of new office
buildings in attractive locations in or around major cities in Germany. The
portfolio now comprises 10 buildings with a book value of Euro151 million (�102
million). The initial financial returns are attractive, with further
significant potential for asset growth through yield compression and rental
growth."

                                    -ends-                                     

For further information, please contact:

Sten Mortstedt, Executive Chairman

Per Sj�berg, Chief Executive Officer

Dan B�verstam, Chief Financial Officer

CLS Holdings plc

www.clsholdings.com

Tel. +44 (0)20 7582 7766

Adam Reynolds/Ben Simons

Hansard Communications

Tel. +44 (0)20 7245 1100



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