RNWH Renew Holdings Plc

RNS Number:9028H
Renew Holdings PLC
21 August 2006


Renew Holdings plc

("Renew" or the "Group")



Sale of Property


Renew is pleased to announce that it has sold its freehold property at 39
Cornhill, which houses the Group's head office, for a consideration of #11.3
million net of fees and other disposal costs.  Profit on the sale was
approximately #0.4m and will be used for general corporate purposes.


The Group no longer considers ownership of the property to be appropriate in
light of its reduced level of occupancy, and has therefore entered into a more
efficient lease arrangement.  The majority of the proceeds will be used to
redeem the mortgage on the property, which will result in an additional #0.6
million in annual interest savings.  The Group's head office function will
continue to occupy the third floor at 39 Cornhill.


                                                                  21 August 2006

Enquiries:


Renew Holdings plc                                            Tel: 020 7522 3200

Brian May, Chief Executive

College Hill                                                  Tel: 020 7457 2020

Matthew Gregorowski


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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