RNS Number:9399I
UK Balanced Property Trust Ltd(The)
19 March 2003

ANNOUNCEMENT

THE UK BALANCED PROPERTY TRUST LIMITED

19 March 2003

The Directors announce that at an Extraordinary General Meeting of the Company
held today shareholders passed the ordinary resolution approving the Proposals,
as described in the circular of the Company dated 21 February 2003. The offer
period has now closed and the Company has received applications for a total of
approximately 41 million new Ordinary Shares in the Placing and Offer. All
applications will be accepted in full and there will be no scaling back.
Admission of the new Ordinary Shares will take place on 20 March 2003. It is
expected that the Reduced New Property Portfolio (as described in the Prospectus
of the Company dated 21 February 2003) will be acquired on 25 March 2003. In the
current market environment, the Directors are delighted with the result of the
Issue.

Copies of the ordinary resolution have been submitted to the UK Listing
Authority and will shortly be available for inspection at the UK Listing
Authority's Document Viewing Facility, which is situated at:

Financial Services Authority
25 The North Colonnade,
Canary Wharf,
London E14 5HS
Tel: 020 7676 1000

Enquiries:

Nigel Russell, Graham Reaves and
Graeme Caton
G&N Collective Funds Services Limited
Tel: 0131 226 4411

Tom Laidlaw and David Mitchell
Scottish Widows Investment Partnership Limited
Tel: 0131 655 8500



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