Issue date: 11 September 2001

Contact:
Amanda Fisher, citib@se 020 7808 7444
Alex Kane, Spada 020 7269 1430

Newcastle sees growth in financial services sector

11 September 2001. citib@se, the leading service office provider, has today released statistics which demonstrate the growing strength of the financial services sector in the Newcastle area.

The statistics analyse occupancy of citib@se's offices all over the country according to business sector. In just one year, the space occupied by financial services companies in citib@se Newcastle has more than doubled, from 10% to 25%.

Ian Read, citib@se director commented: "Across our national network of centres, financial services companies occupy around 8% of our 750 offices. This puts the 25% occupancy rate in Newcastle into perspective, and shows how important the sector is in the region.

"Because serviced offices are the natural choice for up and coming businesses they are a useful barometer of growth sectors in particular regions. The next strongest area for financial services is Edinburgh, at 12%. "

Beatrice Shaw, manager at citib@se Newcastle added: "The serviced office option is becoming increasingly attractive to all types of businesses. The leases are flexible so it is the ideal solution, especially for new ventures, or those trying to break into a new geographical area. We provide professional, high quality offices for our clients, at prices which are more accessible than standard city-centre rates."

Notes for Editors
For further information, please contact:
Amanda Fisher (corporate) citib@se plc 120 Wilton Road London SW1V 1JZ Tel: 020 7808 7444 Fax: 020 7808 7028		Alex Kane (press) Lion House 72-75 Red Lion Street London WC1R 4NA Tel: 020 7269 1430 Fax: 020 7269 1440
Editors’ Notes • citib@se manages a fast-growing, national network of business centres. It operates centres nationwide in Birmingham, London, Manchester, Newcastle, Leeds, Leicester, Bewdley, Cambridge, Edinburgh, Bristol, and Kenilworth. • citib@se operates business centres with five-star service and state-of-the-art telecommunications technology. The offices provide an environment that previously had only been available to large, well-established companies. Should you require any further information please contact: Lisa Watson citib@se plc Vigilant House 120 Wilton Road London SW1V 1JZ Tel: 020 7808 7006 Fax: 020 7808 7028 Email: lisawatson@citibase.co.uk