RNS Number:8543M
BFS Managed Properties Ltd
26 June 2003



                 BFS Managed Properties Limited (the "Company")

          BFS Managed Properties Securities Limited (the "Subsidiary")


The Company has purchased in aggregate 9,962,000 Zero Dividend Preference shares
issued by the Subsidiary. In accordance with the proposals put to shareholders
in the Circular dated 18 June 2003 these shares will be passed to the Subsidiary
for cancellation subject to receipt of shareholder and Court approval.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

POSNKAKQOBKDQAB