RNS Number:2523O
BFS Managed Properties Ltd
01 August 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 long leasehold interest in
1009 Oldham Road, Newton Heath, Manchester for a total consideration of #1.8
million. The property comprises a two storey office used as a Job Centre.
Completion took place on 30th July 2003.

The investment was valued at #1.8 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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