Acquisition

BPT PLC
27 August 1999


BPT ACQUIRES RESIDENTIAL PORTFOLIO IN LEEDS

The  Board  of BPT plc (formerly called The Bradford  Property
Trust
PLC), the UK's largest quoted owner of residential property in the
private rented sector, today announces that it has acquired  a
portfolio of 80 houses and flats in Oulton, Leeds.

BPT  has acquired the whole of the issued share capital of UBI
Investments Limited (to be renamed Oulton Properties  Limited)
for  £1.23 million.  The consideration comprises the issue  of
400,799  ordinary  shares in  BPT  plc  at 249.5p
(being  the  mid market price at the close of business  on  25
August  1999)  and  a  cash payment of  £0.23  million.   Upon
admission, these ordinary shares will rank pari-passu  in  all
respects   with   the   existing   issued   ordinary   shares.
Application  has  been made to the London Stock  Exchange  for
admission  of  these  ordinary shares to  the  Official  List.
Subject  to  the  provision of completion accounts  as  at  27
August   1999,  an  adjustment  may  be  made  to   the   cash
consideration on a pound for pound basis to reflect the  final
agreed net asset value.

The  open  market  value  at  completion  of  the  residential
portfolio  has  been agreed at £2.33 million.   Currently  the
portfolio generates a gross rental income of £0.21 million per
annum,  being  a  gross  yield  of  9.0%,  and  comprises   53
properties  let  on  regulated tenancies, 24  let  on  assured
shorthold tenancies and 3 vacant in progress to be re-let.

Tim Watts, Managing Director of BPT states 'This portfolio  is
a good investment for BPT as it generates an attractive income
return.   The  ratio of regulated rents to market rents  means
that it also provides opportunities for future improvements in
the gross yield'.

For further information contact:

BPT plc                            Citigate Dewe Rogerson
Tim Watts, Managing Director            Keeley Middleton
Tel:  [phone]                Tel:  [phone]

Nigel Denby, Finance Director
Tel:  [phone]