Net Asset Value(s)

RNS Number:9953T
UK Balanced Property Trust Ltd(The)
08 January 2004


                     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                                           08 January 2004

Net Asset Value

The Net Asset Value per share of The UK Balanced Property Trust Limited as at 31
December 2003 was 105.96 pence each. This Net Asset Value figure incorporates
the portfolio valuation conducted on 12 December 2003, and confirmed on 31
December 2003.

The Property Portfolio will next be valued by an external valuer on 12 March
2004 and the next quarterly Net Asset Value will be published in early April
2004. The net asset value attributable to the Ordinary Shares is calculated on a
capital basis under UK Generally Accepted Accounting Principles for investment
companies.

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

END
NAVUUUBUGUPCGGR