RNS Number:3186H
UK Balanced Property Trust Ltd(The)
11 February 2003


                                  SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

1. Name of company

The UK Balanced Property Trust Limited

2. Name of director

Mr F Malcolm

3. Please state whether notification indicates that it is in respect of holding
of the shareholder named in 2 above or in respect of a non-beneficial interest
or in the case of an individual holder if it is a holding of that person's
spouse or children under the age of 18 or in respect of a non-beneficial
interest

The shares are held in respect of the Director named in 2 and his wife

4. Name of the registered holder(s) and, if more than one holder, the number of
shares held by each of them (if notified)

BDS Nominees limited 14,000 ordinary shares

5. Please state whether notification relates to a person(s) connected with the
director named in 2 above and identify the connected person(s)

Mrs V Malcolm - Wife

6. Please state the nature of the transaction. For PEP transactions please
indicate whether general/single co PEP and if discretionary/non discretionary

Held under ISA's

7. Number of shares / amount of stock acquired

14,000 ordinary shares

8. Percentage of issued class

.0093%

9. Number of shares/amount of stock disposed

N/A

10. Percentage of issued class

N/A

11. Class of security

Ordinary

12. Price per share

97pence per share

13. Date of transaction

10.02.03

14. Date company informed

10.02.03

15. Total holding following this notification

64,000 ordinary shares

16. Total percentage holding of issued class following this notification

0.042%

If a director has been granted options by the company please complete the
following boxes.

17. Date of grant

N/A

18. Period during which or date on which exercisable

N/A

19. Total amount paid (if any) for grant of the option

N/A

20. Description of shares or debentures involved: class, number

N/A

21. Exercise price (if fixed at time of grant) or indication that price is to be
fixed at time of exercise

N/A

22. Total number of shares or debentures over which options held following this
notification

N/A

23. Any additional information

N/A

24. Name of contact and telephone number for queries

Patrick Farncombe +44 1481 739177

25. Name and signature of authorised company official responsible for making
this notification

Company Secretary, Butterfield Fund Managers (Guernsey) Limited

Date of Notification

11.02.03

The FSA does not give any express or implied warranty as to the accuracy of this
document or material and does not accept any liability for error or omission.
The FSA is not liable for any damages (including, without limitation, damages
for loss of business or loss of profits) arising in contract, tort or otherwise
from the use of or inability to use this document, or any material contained in
it, or from any action or decision taken as a result of using this document or
any such material.


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