RNS Number:2107N
BFS Managed Properties Ltd
04 July 2003

BFS MANAGED PROPERTIES LIMITED ("the Parent")

BFS MANAGED PROPERTIES SECURITIES LIMITED ("the Subsidiary")

Result of EGMs and Separate Class Meeting


At the Class Meeting of Zero Dividend Preference ("ZDP") shareholders of the
Subsidiary held in Guernsey on 4 July 2003, both extraordinary resolutions were
duly passed.

At the Extraordinary General Meeting of the Subsidiary held in Guernsey on 4
July 2003, both special resolutions were duly passed.

At the Extraordinary General Meeting of the Parent held in Guernsey on 4 July
2003, the special resolution was duly passed.


Copies of the above resolutions are contained in the Circular sent to
shareholders on 18 June 2003, which is available for inspection at the UKLA's
Document Viewing Facility.


Channel Islands Fund Services Ltd

Company Secretary


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