RNS Number:8359N
BFS Managed Properties Ltd
22 July 2003

                         BFS Managed Properties Limited

                               Property Disposal

BFS Managed Properties Limited (the "Company") announces that its subsidiary,
BFS Managed Properties Holdings Limited, has sold the freehold interest in 110 -
112 Kilmarnock Street, Shawlands, Glasgow for a total consideration of #1.1
million. The property comprises two storey High Street premises used as a
building society office. Completion is due to take place on 23rd July 2003.

The investment was valued at #1.1 million (March 2003) by Lambert Smith Hampton
on an open market basis in accordance with the RICS Appraisal and Valuation
Manual.

Enquiries:

Harry Hyman

Nexus Property Management Services Limited Tel: 01483 306912

William van Heesewijk

BFS Investments plc Tel: 0845 130 1122


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