Bromley Property Investments Ld
11 April 2001


                                                                 11 April, 2001


  Not for release, publication or distribution in or into the United States,
                          Canada, Australia or Japan

                      Recommended offers by Deutsche Bank

               on behalf of Bromley Property Investments Limited

                                  for BPT plc

The Board of Bromley Property Investments Limited ('BPIL') announces that the
Offer Document was posted to BPT Shareholders yesterday.

Acceptances should be received by no later than 3.00 p.m.(London time) on 1
May, 2001.

The definitions contained in the announcement dated 14 March, 2001 apply for
the purposes of this announcement.

Enquiries

Deutsche Bank              Debbie Robertson Bond            020 7545 8000
                           Richard Finston

Bankside Consultants       Baron Phillips                   020 7220 7477


Deutsche Bank, which is regulated in the United Kingdom for the conduct of
investment business by The Securities and Futures Authority Limited, is acting
for DB REPEG, Grainger and BPIL and for no one else in connection with the
Offers and will not be responsible to anyone other than DB REPEG, Grainger and
BPIL for providing the protections afforded to customers of Deutsche Bank, or
for providing advice in relation to the Offers.


The Offers will not be made, directly or indirectly, in or into, or by use of
the mails of, or by any means or instrumentality (including, without
limitation, facsimile transmission, telex, e-mail or telephone) of interstate
or foreign commerce of, or of any facilities of a national securities exchange
of, the United States, nor will they be made in or into Canada, Australia or
Japan and the Offers will not, save in accordance with an applicable
securities exchange exemption, be capable of acceptance by any such use,
means, instrumentality or facilities from within the United States, Canada,
Australia or Japan. Accordingly, copies of this announcement, the Offer
Document, the Form(s) of Acceptance and any related documents are not being,
and must not be, mailed or otherwise forwarded, distributed or sent in or into
or from the United States, Canada, Australia or Japan and persons receiving
this announcement and/or such documents (including, without limitation,
custodians, nominees and trustees) must not mail, distribute or send them in,
into or from the United States, Canada, Australia or Japan or use such mails
or any such means, instrumentality or facility for any purpose directly or
indirectly in connection with the Offers, and so doing may invalidate any
purported acceptance of the Offers.


The Loan Notes to be issued pursuant to the Offers will not be listed on any
stock exchange and have not been, and will not be, registered under the US
Securities Act or under the securities laws of any state of the United States.
No steps have been taken, nor will any be taken, to enable the Loan Notes to
be offered in compliance with the applicable securities laws of Canada or
Japan and no prospectus in relation to the Loan Notes has been, or will be,
lodged with or registered by the Australian Securities and Investment
Commission. Accordingly, the Loan Notes may not be offered, sold, transferred,
resold, delivered or distributed, directly or indirectly, in or into the
United States, Canada, Japan or Australia (except in transactions exempt from
or not subject to the registration requirements of the US Securities Act or
the relevant securities laws of Canada, Japan or Australia).


The availability of the Offers to persons not resident in the United Kingdom
may be affected by the laws of the relevant jurisdictions in which they are
located. Persons who are not resident in the United Kingdom should inform
themselves of, and observe, any applicable requirements.