RNS Number:1809J
UK Balanced Property Trust Ltd(The)
25 March 2003


THE UK BALANCED PROPERTY TRUST LIMITED

25 March 2003

The UK Balanced Property Trust Limited ("UKBPT"), managed by Scottish Widows
Investment Partnership Limited, has today completed the purchase of the Reduced
New Property Portfolio of 21 properties from Lloyds TSB Life Assurance Company
Limited for the agreed consideration of #73.746 million, as described in the
prospectus and circular issued by UKBPT dated 21 February 2003.

The acquisition was financed by existing cash balances, the issue of new
ordinary shares on 20 March 2003 and by draw down of debt under an existing and
an additional facility with The Royal Bank of Scotland plc.

All enquiries:
The Company Secretary
Butterfield Fund Managers (Guernsey) Limited
PO Box 211
Butterfield House
The Grange
St Peter Port
Guernsey
GY1 3NQ

Tel: 01481 720321
Fax: 01481 716117



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