Restructure Proposals

British Portfolio Trust PLC
23 December 2002

BRITISH PORTFOLIO TRUST PLC ('the Company')

Announcement of proposals relating to the issue of up to 32 million New Ordinary
Shares in connection with the reconstruction and winding up of Jos Holdings plc.
('the Proposals')

Copies of the Prospectus and Notice of Extraordinary General Meeting relating to
the Proposals are available for public inspection at the UK Listing Authority,
25 The North Colonnade, Canary Wharf, London E14 5HS and at the registered
office of the Company, 10 Fenchurch Street, London EC3M 3LB.


Contact

Peter Ingram

Company Secretary

020 7475 6410


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