Disposal

RNS Number:7031S
UK Balanced Property Trust Ltd(The)
01 December 2003



                     THE UK BALANCED PROPERTY TRUST LIMITED

                    (Registered in Guernsey - Number 39171)

                               Registered Office:

                C/o BUTTERFIELD FUND MANAGERS (GUERNSEY) LIMITED

          P.O. BOX 211, BUTTERFIELD HOUSE, THE GRANGE, ST. PETER PORT,

                      GUERNSEY, GY1 3NQ, CHANNEL ISLANDS.
                          ___________________________

                          TELEPHONE: + 44 1481 720321

                          FACSIMILE: + 44 1481 716117

                             e-mail: [e-mail]


Immediate Announcement         01 December 2003


Disposal

Scottish Widows Investment Partnership, on behalf of The UK Balanced Property
Trust, a listed investment company set up in 2002, completed the sale of Phase
III of St Catherine's Retail Park, Perth on 26th November. The open A1 park
comprises 3 units totalling 40,276 sqft and is let to Comet, Brantano and TK
Maxx.

Capitalising on the strength of the current market and, in particular the
popularity of the retail warehouse sector, the Trust sold the property for
#10.25m which reflects a net initial yield of 5.5%.

SWIP is now actively looking to reinvest the proceeds of this sale, together
with funds that will be raised through other ongoing sales, and is ideally
seeking lot sizes of #2-10m.

The property was purchased by a private client of King Sturge. FPD Savills acted
for the vendor.



All Enquiries:


The Company Secretary
Butterfield Fund Managers (Guernsey) Limited
PO Box 211
Butterfield House
The Grange
St Peter Port
Guernsey
GY1 3NQ
Tel: [phone]
Fax: [phone]




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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