Result of EGM

British Portfolio Trust PLC
22 January 2003


                            BPT: First announcement

British Portfolio Trust plc

22 January 2003


EGM resolutions passed

At an Extraordinary General Meeting of British Portfolio Trust plc (the
'Company') held yesterday, the ordinary resolution approving the Company's
participation as a roll-over option under the proposed scheme of reconstruction
(the 'Scheme') of Jos Holdings plc ('Jos') was duly passed, with 99.4% of the
votes cast voting in favour of the resolution.

As set out in the circular and prospectus to shareholders dated 19 December
2002, the timetable remains as follows:


Existing Ordinary Shares declared ex dividend                                               29 January 2003
Record date for Special Dividend and Second Interim Dividend                                31 January 2003
Date on which relevant proportion of Jos assets transferred to BPT in                       31 January 2003
accordance with Scheme
Effective Date for implementation of the Scheme                                             31 January 2003
New Ordinary Shares issued under the Scheme                                                 3 February 2003
Dealings commence in New Ordinary Shares                                                    3 February 2003
New Ordinary Shares issued in uncertificated form credited to stocks                        3 February 2003
accounts in CREST of Jos Shareholders entitled thereto
Certificates of New Ordinary Shares despatched                                           by 5 February 2003
Special Dividend and Second Interim Dividend paid                                          11 February 2003

The Scheme and the issue and allotment of New Ordinary Shares are conditional
on, inter alia, the passing of the resolutions at Extraordinary General Meetings
of Jos convened for 22 January 2003 or at any adjournment thereof and admission
of the New Ordinary Shares to the Official List and to trading on the London
Stock Exchange.


Enquiries:

Simon White

Dresdner RCM Global Investors

020 7475 2700


Howard Myles

Ernst & Young LLP

020 7951 5324


Terms used in this announcement shall, unless the context otherwise requires,
bear the meanings given to them in the prospectus and circular to Shareholders
of British Portfolio Trust plc dated 19 December 2002.

Ernst & Young LLP, which is regulated in the United Kingdom by the Financial
Services Authority, is acting for British Portfolio Trust plc and for no-one
else and will not be responsible to anyone other than of British Portfolio Trust
plc for providing the protections afforded to customers of Ernst & Young LLP or
for providing advice in relation to the Proposals or any matter referred to
herein.


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