Statement re Strategic Review

BPT PLC
3 August 2000

                       BPT plc (BPT)
                              

As  outlined  in  its preliminary results announcement,  the
board of BPT recently initiated a strategic review with its professional 
advisors to determine how the group could best pursue its development
and  maximise value for shareholders. The review  considered
how  BPT  could in the future best access additional  equity
and  debt  capital  to  continue to grow  the  business  and
maximise shareholder value given the significant discount of
BPT's share price to underlying net asset value.

As  a  result  of  the  review, the board  believes  that  a
restructured balance sheet and the availability of  new  and
additional  forms of finance would give BPT more opportunity
to  expand its residential management business. Accordingly,
the board of BPT has decided to investigate with a number of
parties  whether the interests of its existing  shareholders
would  be best served by a cash offer being made for all  of
the  share capital of BPT. This would result in BPT  ceasing
to be a Stock Exchange listed company. The board will expect
any  offer  price  to reflect the value of  BPT's  excellent
management,  employees and track record in addition  to  its
high quality residential portfolio.

The board will make a further announcement as soon as it is
appropriate to do so.

Enquiries

BPT            Tim Watts, Managing Director  01274 723181
today

                                        01372 743113
thereafter

               Nigel Denby, Finance Director 01274 723181

Schroder Salomon
Smith Barney   James Brent,
               Managing Director             020 7986 6000

               Iain Robertson, Director      020 7986 6000

               Nick Tinworth, Vice President 020 7986 6000

Citigate
Dewe Rogerson  Grace Marriner           0113 2979899


Salomon Brothers International Limited, trading as Schroder
Salomon Smith Barney (SSSB), which is regulated in the
United Kingdom by The Securities and Futures Authority
Limited, is acting exclusively for BPTand no one else in
connection with a possible offer for BPT and will not be
responsible to anyone other than BPT for providing the
protections afforded to customers of SSSB or for giving
advice in relation to a possible offer.