Closure of Ealing Store

27 July 2007

The Board of Beale PLC (The Group) announce that they have reached a commercially acceptable agreement with Ealing Shopping Centre Limited Partnership, a subsidiary of Legal and General Assurance Society Limited, landlords of the Ealing store, for the early surrender of the lease.  The store was one of three former Bentalls stores acquired from Fenwick Limited in a single transaction in 2002.

The Group will receive a cash consideration of £375,000 for the surrender.

The store will, therefore, close on Sunday, 28th October 2007.

The Group is actively looking for additional sites in the UK, either new store developments or the acquisition of established businesses.

For further information:

Beale PLC                              Tavistock Communications               Blue Oar Securities PLC
Allan Allkins, Chief Executive     Lulu Bridges                                   Mike Coe
Ken Owst, Finance Director      Polly Hutchinson                             Tel: 0117 933 0020
Tel: 01202 552022                  Tel: 020 7920 3150