BPT PLC
16 February 2001
BPT plc ('BPT' or the 'Company')
On 1 February 2001 the Independent Committee of the Board of BPT announced
that the Company had agreed to extend, until 15 February 2001, the exclusive
negotiations with the consortium led by Deutsche Bank Real Estate Private
Equity Group and including Grainger Trust plc.
The Committee announces that discussions are very well advanced and it has
been agreed that if an offer were made it would be no later than 28 February
2001 and at a price of 321 pence per Ordinary Share.
Enquiries
BPT plc
Philip Warner, Chairman 020 7487 3312
Schroder Salomon Smith Barney
James Brent
Iain Robertson 020 7986 6000
Salomon Brothers International Limited, trading as Schroder Salomon Smith
Barney ('SSSB'), which is regulated in the United Kingdom by The Securities
and Futures Authority Limited, is acting exclusively for BPT and no one else
in connection with the proposed offer for BPT and will not be responsible to
anyone other than BPT for providing the protections afforded to customers of
SSSB or for giving advice in relation to the proposed offer for BPT.
Salomon Smith Barney is a service mark of Salomon Smith Barney Inc.
Schroders is a trademark of Schroders Holdings PLC and is used under
licence