Update re Board's Proposals

RNS Number:2546A
UK Balanced Property Trust Ltd(The)
13 July 2007


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  CANADA OR JAPAN, OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
              VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION


                     THE UK BALANCED PROPERTY TRUST LIMITED
                     (Registered in Guernsey - Number 39171)

                             Administrative Office:
                C/o BUTTERFIELD FUND SERVICES (GUERNSEY) LIMITED
        P.O. BOX 211, REGENCY COURT, GLATEGNY ESPLANADE, ST. PETER PORT,
                      GUERNSEY, GY1 3NQ, CHANNEL ISLANDS.
                          ___________________________

                          TELEPHONE:  + 44 1481 720321
                          FACSIMILE:  + 44 1481 716117
                            e-mail:  [e-mail]


For immediate release                                             13 July 2007


             THE UK BALANCED PROPERTY TRUST LIMITED (the "Company")

                  UPDATE ON THE INDEPENDENT BOARD'S PROPOSALS
                    ________________________________________


The Board notes the announcement made by Scottish Widows Unit Funds Limited
("SWUF") and the circular to the Company's Shareholders published by SWUF, in
each case on 12 July 2007.  The Company has become aware that the SWUF
announcement and circular may have resulted in certain confusion in the market
as to the comparative worth of your Independent Board's proposals (as set out in
the circular to Shareholders on 8 June 2007) and the SWUF proposals.  This
announcement is intended to correct any confusion.

SWUF has announced on 12 July 2007 an illustrative valuation which it asserts
its proposals would place on the Company's shares and indicated that, if
Shareholders passed its requisitioned resolutions at the extraordinary general
meeting on 31 July 2007, the SWUF nominated directors (who would replace the
Independent Board if the SWUF requisitioned resolutions are passed) intend to
declare an interim dividend of 1.875p per share expected to be paid in late
September 2007.

Market commentary may imply that the proposed dividend referred to under the
SWUF proposals represents extra value for Shareholders over and above that which
would be available in any sale to an independent third party as set out in the
Company's circular to Shareholders on 8 July 2007.  That is not the case.  The
proposed dividend referred to by SWUF should not create any extra value for
shareholders which would not be available under the Independent Board's
proposals.

The Board urge shareholders to continue to support the Independent Directors and
to vote against the SWUF resolutions to be considered at the extraordinary
general meeting on 31 July 2007.  A vote against the SWUF resolutions will
ensure that the current Board are able to continue acting in the best interests
of all Shareholders and that they can recommend whichever proposals offer the
best value for all Shareholders.  The Directors are continuing with negotiations
with a view to the possible sale of the portfolio and intend to make a further
announcement prior to 31 July 2007.

Enquiries:

Nigel Russell/Graeme Caton, G&N Collective Funds Services Limited
0131 226 4411

Stephanie Highett/ Dido Laurimore / Nicole Marino, Financial Dynamics
020 7831 3113

Important Note:

Dickson Minto W.S., which is authorised and regulated in the United Kingdom by
the Financial Services Authority, is acting solely for The UK Balanced Property
Trust Limited and for no one else in connection with the matters set out in this
announcement and will not regard any other person as its client or be
responsible to anyone other than The UK Balanced Property Trust Limited for
providing the protections afforded to clients of Dickson Minto W.S. or for
providing advice in relation to these matters or the contents of this
announcement.

This announcement does not constitute, or form part of, any offer, or
solicitation of any offer, for securities.






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            The company news service from the London Stock Exchange

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