RNS Number:0548U
Basepoint PLC
09 January 2004


Basepoint plc

Basepoint plc Announces Preferred Partner Status with SEEDA

Basepoint plc ('Basepoint'), specialist in the development and operation of
Managed Business Innovation and Enterprise Centres (MBECs), announced on 9
January 2004 that following a rigorous selection process conducted under
Official Journal of the European Communities (OJEC) procurement rules, it has
been selected as one of three Preferred Partners by the South East England
Development Agency (SEEDA). Under the terms of the agreement the Partners will
separately develop and manage on behalf of the Agency Business Incubation and
Managed Workspace Centres across the South East region.

To pursue its goal of working to maintain the South East as one of the world's
top performing regions for business competitiveness SEEDA has acquired or will
acquire over the next seven years predominantly brownfield sites across the
region in areas that exhibit a shortage of suitable facilities for new and
early-stage businesses. Basepoint will then be called upon to develop a
proportion of these sites to provide new centres of up to 3250 m(2) of high
quality office, workshop and studio units with full infrastructure support to
let on short-term, flexible licences.

SEEDA is allocating significant budget resources towards this contract and
intends to retain ownership of the completed projects as they are delivered.
Subject to completion of the legal agreements on each new site, Basepoint will
receive a contract to supervise the development project and an eleven-year
contract for the management of each centre, subject to a break clause at six
years. It will derive income from project management fees as each centre is
developed, and operational and performance related management fees following
completion.

"This agreement further demonstrates our commitment to deliver on the third leg
of the strategy that we announced in May of last year," commented Basepoint
Chief Executive, Rob Cleaver. "We have maintained an excellent relationship with
SEEDA since its formation, and this contract builds on the work put in over the
course of 2003 to secure the development of SEEDA's 'Frater Gate Business Park'
project (see notes below)."

"With our own network of MBECs performing well and the Basepoint Limited
Partnership with the Kodak Pension Fund now delivering completed schemes we are
in a position to leverage our expertise to provide development and operational
services to third parties. This agreement offers potential for a very worthwhile
expansion of the business, with our opening rate for new MBECs expected to rise
significantly over the medium term without substantial additional risk exposure
to the business."

Areas expected to benefit from new Business Incubation and Managed Workspace
Centres include Thames Gateway, East Kent, Oxford and the South Coast including
Southampton and Portsmouth.

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Notes:

Basepoint plc (symbol: BNT) specialises in the development and operation of
Managed Business, Innovation and Enterprise Centres in the South East of
England. These centres provide comprehensive accommodation and support
infrastructure packages to new and early stage companies within a supportive and
secure environment. Following the opening of facilities at Crawley and Andover
in October 2003, Basepoint has ten wholly or part-owned centres currently
operational with a further three at varying stages of development as well as a
number of others at feasibility stage.

The 'Frater Gate Business Park' project referred to above relates to a separate
agreement between Basepoint and SEEDA finalised in July 2003 for Basepoint to
project manage on behalf of SEEDA the development and operation of a new MBEC at
Gosport, Hampshire over a period of 15 years.
www.basepoint.co.uk

SEEDA is the Government funded agency responsible for the economic and social
development of the South East of England - the driving force of the UK's
economy. The aim of the Agency is to reinforce the prosperous, dynamic and
inspirational nature of the region by assisting businesses to compete more
effectively, training a highly skilled workforce, and supporting and enabling
local communities while safeguarding the region's natural resources and
cherishing its rich cultural heritage.
www.seeda.co.uk

For further information contact:

Robert Cleaver, Chief Executive, Basepoint plc
David Boakes, Finance & Operations Director, Basepoint plc
Tel. 01962 842244

Jenni Williamson, SEEDA
Tel. 01483 484200

Matt Johnson, Gladstone Public Relations
Tel. 01962 820358



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