RNS Number:5887U
Basepoint PLC
23 January 2004

Basepoint plc

Basepoint plc Commences Work on latest Enterprise Centre

Basepoint plc has announced that work has begun on the construction of its
latest Managed Business, Innovation and Enterprise Centre (MBEC).

The new Centre is located at Bournemouth International Airport and is scheduled
for completion in September 2004, when the development will offer to new and
small companies eighty purpose-built office, studio and workshop units in a
secure setting and with the latest telecommunications facilities including full
broadband access.

The Bournemouth project is the third MBEC to be developed under the Limited
Partnership agreement established in April 2003 between Basepoint plc and the
Kodak Pension Plan. Under this agreement Basepoint Developments Ltd, a wholly
owned subsidiary of Basepoint plc, receives fees for managing the development
process of new MBECs and additional procurement fees linked to the completion of
new Centres. Thereafter Basepoint acts as manager of the Centres held within the
Partnership and receives management fees on that basis.

The Bournemouth area was previously identified as a region experiencing high
levels of economic growth and business start-ups but lacking sufficient supply
of the high-quality commercial space available on short-term flexible leases
that is so important to the success of new and growing enterprises. The new
MBEC, which will have links with Bournemouth University and the local business
support agencies, is being constructed at Aviation Park, an 80-hectare Business
Park adjacent to Bournemouth International Airport; a busy and fast expanding
regional airport. Aviation Park already plays host to companies such as VT
Aerospace, Honeywell and the AIM Group, and is an important regional business
hub attracting a variety of technology and service companies.

Notes:

Basepoint plc (symbol: BNT) specialises in the development and operation of
Managed Business, Innovation and Enterprise Centres in the South 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 the feasibility stage.

www.basepoint.co.uk

For further information contact;
Robert Cleaver, Chief Executive, Basepoint plc
David Boakes, Finance & Operations Director, Basepoint plc
Tel. 01962 842244

Matt Johnson, Gladstone Public Relations
Tel. 01962 820358

23 January 2004



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