BPT PLC
1 February 2001
BPT plc ('BPT')
On 4 December 2000 the Independent Committee of the Board of BPT, comprising
the non-executive directors, announced that it had entered into a period of
exclusive negotiations expiring on 31 January 2001 regarding the proposals
(the 'Proposals') made by the consortium led by Deutsche Bank Real Estate
Private Equity Group and including Grainger Trust plc. The Independent
Committee announces that discussions are well advanced and that this period
of exclusive negotiations has been extended until 15 February 2001.
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 Proposals 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 Proposals. 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.