Capital Reorganisation

Insight Foundation Property Tst Ltd
04 October 2004


Insight Foundation Property Trust Ltd
4 October 2004

On 1 October 2004, the Royal Court of Guernsey confirmed the reduction of share
capital by way of a cancellation of an amount up to the maximum amount standing
to the credit of the share premium account of Insight Foundation Property Trust
Limited (the 'Company'). The amount so cancelled (less any expenses set off
against the share premium account) will be credited as a distributable reserve
established in the Company's books of account and shall be available as
distributable profits to be used for all purposes permitted under Guernsey Law,
including the buyback of shares and the payment of dividends.


Enquiries

Duncan Owen (Insight Investment Management) 0207 321 1676
Paul Smith/ Jeff Lanyon (RBSI) 01481 740 820



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