Issue of Equity

Primary Health Properties PLC
21 January 2002



Primary Health Properties PLC


Institutional Placing (the 'Placing') of 785,000 ordinary shares to raise
approximately £1.15 million (net of expenses)


Primary Health Properties PLC ('PHP' or the 'Company') announces that it is
raising approximately £1.15 million (net of expenses) pursuant to the Placing by
way of the issue of 785,000 new ordinary shares of 50p each of the Company (the
'Placing Shares') at a price of 148 p per share.  The Placing Shares constitute
5 per cent of the Company's current issued share capital.


The Placing Shares are being placed with institutional investors by Numis
Securities Limited.  The Placing is conditional on the admission of the Placing
Shares to the Official List of the UK Listing Authority and to trading on the
London Stock Exchange's market for listed securities becoming effective by no
later than 8.00 a.m. on 25 January 2002 (or by such later time and date as Numis
Securities Limited and the Company may decide).   The Placing Shares will rank
pari passu in all respects with the existing ordinary shares of the Company in
issue including the right to receive and retain all dividends and distributions
declared, made or paid after the date of admission.



Application will be made to the UK Listing Authority for the 785,000 new
ordinary shares to be admitted to the Official List of the UK Listing Authority
and to the London Stock Exchange for such shares to be admitted to trading on
the London Stock Exchange's market for listed securities.  It is expected that
admission will become effective and dealings will commence on 25 January 2002.



Enquiries:

Primary Health Properties PLC

Harry Hyman  Tel:  [phone]



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