Merger Update

Westbury Property Fund Limited
20 September 2007

        The Westbury Property Fund Limited (the 'Company') to be renamed

                             STOBART GROUP LIMITED

                                 Merger Update



Further to the Company's announcement yesterday, it is now expected that
Admission of the New Ordinary Shares to listing on the Official List and to
trading on the London Stock Exchange will take place on 21 September 2007, at
which time completion of the Merger Agreement and the Disposal Agreement will
occur.

Terms used in this Announcement shall have the same meanings as in the Circular.



Enquiries


Assura Group              Richard Burrell      0207 107 3830

                          Louise Bathersby     0207 107 3830        [e-mail]


Lansons Communications    Tony Langham         07979 692 287        [e-mail]

                          Charlie Field        07884 001 148        [e-mail]

                          Karen Mignon         07766 651 327        [e-mail]


Cenkos                    Ian Soanes           020 7397 8900        [e-mail]






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