Acquisition

Medical Property Investment Fd Ltd
21 December 2005

          The Medical Property Investment Fund Limited (the 'Company')



                  Acquisition of a Development in Macclesfield



The Company today announces this its subsidiary, MPIF Holdings Limited (MPIF),
has entered into a conditional agreement to purchase shares in Primary Care
Initiatives Limited (PCI) from various individuals.  PCI's subsidiary, Primary
Care Initiatives (Macclesfield) Limited (PCIM), owns land on the west side of
Sunderland Road, Macclesfield.  A 62,000 sq ft property is currently being
developed by PCIM on the land as a primary care centre with integrated pharmacy
and retail premises.  Following completion of the development, which is expected
to be in the Spring of 2006, it is anticipated that the property will
accommodate around 44 GPs.  In aggregate, the total capital committed by MPIF in
relation to the acquisition and the development of the land will not exceed
£16.13m, excluding costs.



A further announcement will be made to confirm the completion of the acquisition
in due course.



For further information please contact:

Richard Burrell, Berrington Fund Management LLP   Tel. [phone]
6271




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