EMM Disclosure

RNS Number:0972K
Teather & Greenwood Ld
16 April 2003

                                 EMM DISCLOSURE

                                                             FORM 38.5 (SUMMARY)



Lodge with a RIS and the Takeover Panel.  Use a separate form for each class of
securities in which dealings have been made.





CONNECTED EXEMPT MARKET- MAKERS:
DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS





Name of EMM


TEATHER & GREENWOOD LIMITED



Date of disclosure


16 APRIL 2003



Contact name


JASON STIMPSON



Telephone number


020 7426 7714



Please see attached disclosure of dealings under Rule 38.5 in the securities
of the following companies:


PROPERTY INCOME & GROWTH FUND LTD





If the attached Rule 38.5 disclosure is to amend a previous disclosure, please
state which element(s) of previous disclosure was incorrect:






In the case of option business or dealings in derivatives full details should be
given on a separate sheet so that the nature of the dealings can be fully
understood. For options this should include the number of securities under
option, the exercise period (or in the case of exercise, the exercise date), the
exercise price and any option money paid or received. For derivatives this
should include, at least, the number of reference securities to which they
relate (when relevant), the maturity date (or if applicable the closing out
date) and the reference price.



For full details of the disclosure requirements see Rules 8 and 38 of the Code.
If in doubt contact the Monitoring Section of the Panel, Tel. No: 020 7638 0129.
Email: [e-mail]


                                                                       FORM 38.5

CONNECTED EXEMPT MARKET-MAKERS:

DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS



Dealing in (name of company)


PROPERTY INCOME & GROWTH FUND LTD



Class of security


ORD 25P



Date of disclosure


16 APRIL 2003



Date of dealing


15 APRIL 2003



Name of EMM


TEATHER & GREENWOOD LIMITED



Name of offeree/offeror with whom connected


PROPERTY INCOME & GROWTH LTD



Total number of securities purchased


6000



Highest price paid* (GBP)


16p



Lowest price paid*


16p



Total number of securities sold






Highest price received*(GBP)






Lowest price received*






*Currency must be stated


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

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