TDG sells property to ProLogis

TDG plc has agreed the terms of the disposal of a property site in East London
to a Luxembourg subsidiary of the Prologis Trust group (“Prologis”) for a cash
consideration of £7.2 million, of which £3.4 million will be received at the end
of 2002, with the balance to be received when TDG gives Prologis vacant
possession of the site, which can be no later than June 2004. In addition, TDG
is entitled to an additional payment if residential planning permission is
obtained by Prologis for part or all of their total site including additional
adjoining land, within ten years of completion of TDG’s disposal.

The property will continue to be utilised by TDG for the provision of warehouse
and ancillary services during the time until vacant possession is given to
Prologis. The net book value of the site is £4.4m. The sale proceeds will
serve to reduce Group debt.