RNS Number:1286Z
BFS Managed Properties Ltd
25 July 2002


BFS Managed Properties Limited

Dividend Announcement

The Company's Property Portfolio is expected to meet the anticipated level of
rental income for the period to 30 September 2002 and beyond. However, in light
of the continued reductions in dividend levels and suspension of dividends by a
number of the split capital trusts held within the Company's income portfolio,
the Board considers that it would be prudent for the Company to reduce the
anticipated level of dividends payable on the Ordinary shares.

Accordingly, the Directors have declared a fourth interim dividend of 1.5p per
Ordinary share, payable on 16 August 2002, to the holders of Ordinary shares on
the register on 2 August 2002. The corresponding ex dividend date will be 31
July 2002. With regard to future dividends, the Board will continue to monitor
the revenue position closely in the current difficult investment environment.


Enquiries:

For BFS Investments plc, William van Heesewijk Tel: 01483 237773

For Channel Islands Fund Services Limited, David Preston Tel: 01481 231994




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