P208 CEEFAX 208 Fri 13 May 21:15/24 G P&O, CHELSFIELD MAKE $400m SALE P&W and associate Chjlsfield have made a big sale on the other side of the Atlantic. $heir Laing Properties Inc joint venture has sold its portfolio of around 6,500 residential garden flats for $400m. Of this sum, $280m iu being paid in cash and the rjmaindjr in the form of stock in the bu:eu, Security Capital Atlantic. $hj proceeds will bj used to repay LP's bank debt, including the $85m guaranteed bz Chjlsfield and P&O. Headlines 201 Share price 222 Diary ShareuG-S Exchange MonjyfileP208 CEEFAX 208 Fri 13 May 21:11/45 2/2 QU—RTERLY G—IG 2 AT BU ZANT P&O P&O continues to steer a reco6 ry corr l, accordint to its chairman. A buoyant Lo d Sterling told the shipping-to-building group's annual meeting that results for the first quarter "show a good improvement on last year". He said P&O had emjrgjd from one of the deepest recessions in living memory "even stronknr pruhaps than it has ever been in its...history". Most of its forward indicators - bookings, oudjrs, and so on - wake showing a continuing improvjmnnt. Headliner 201 Share price 222 Diary ShareuG-S Exchanges Monjyfile