Final Results

Medical Property Investment Fd Ltd
21 March 2005


21 March 2005

Enquiries:       Richard Burrell/Peter Dickson             Tel: [phone]
                 Berrington Fund Management Limited        www.berringtonfm.com

                 Billie Clarricoats                        Tel: [phone]
                 Lansons Communications


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

                     Full-year Results to 31 December 2004



The Medical Property Investment Fund is a support services company listed on the
London Stock Exchange. The Company was launched in November 2003 and will have
financial resources of circa £400m to invest in primary care.



This inaugural set of results is in respect of the period ending 31 December
2004.



•   Good first year result with 46 sites acquired (a further 14 sites in
    solicitors' hands)1


•   Over £175m of capital committed1


•   Average net initial yield on capital committed circa 7%


•   Growing pipeline of acquisitions and developments


•   BHE acquisition fully integrated, more opportunities in LIFT3 arising


•   Gross income of £7.6m with retained profit of £0.3m net of all launch
    and property acquisition expenses

•   Final dividend 2.67p2 making 4p in total



1 As at 15 March 2005

2 Ex-dividend date 30 March 2005, Record date 1 April 2005, Payment date 11
  April 2005

3 Local Improvement Finance Trusts are part of the Government's aim to procure
  investment in primary care and community-based facilities and services.


Commenting on the Results, Richard Burrell, Investment Manager to the Company,
said:

'We are pleased with the development of the Company during its first year.  We
have acquired 46 properties to date and we have a strong pipeline of potential
acquisitions and developments.

The new GP contract introduced in 2004 promotes premises flexibility and scale
and with the shift from secondary care to primary care we see significant
opportunities for more medical providers (e.g. pharmacy) to co-locate within our
premises.

The Company is well placed to participate in the trend towards the development
of larger health care centres and further LIFT consolidation. We consider this
will be a key driver of shareholder value and as a result, more resources are
being allocated to this part of the business.

We are on track to deliver the asset-backed income growth and over the next 12
months we will continue to focus on building the Company's portfolio of
properties and developments.'

The full text of the Annual Results are available on RNS.


Ends


                      This information is provided by RNS
            The company news service from the London Stock Exchange