November 2004

Mapeley, the property company and specialist provider of serviced business space, today announces that it has appointed Peter Ball to the newly created role of Chief Investment Officer.

Ball joins Mapeley after two years working with UKI Capital Management and, more latterly partnering GE Real Estate, specialising in the centralLondon office investment market. Prior to UKI, Peter was Director of Fund Management at Credit Suisse Asset Management and Head of Property for SLC Asset Management, a business he was instrumental in launching for Sun Life of Canada. During his time with SLC and Credit Suisse, he oversaw property assets in excess of �1 billion.

Ball will be developing Mapeley's push into the direct property investment market. He will be responsible for leading all Mapeley's property investment activity along with property acquisitions and disposals.

Peter Ball commented:

"I am excited to be joining such a dynamic and forward thinking business as Mapeley, whose track record and plans for the future have impressed me a great deal.

I look forward to working with Mapeley's already established and highly respected property team, which includes such senior property sector players as Paul Makin and Mark Smith."

ENDS

For more information please contact:

Tim McCall                                       mj2                                          02074917776