Scheme of Reconstruction & 2nd Interim Dividend

French Property Trust PLC
7 January 2000

SCHEME OF RECONSTRUCTION
SECURITY TITLE
*Ord Shs
MNEMONIC CODE           *FRP
SEDOL CODE              *352-466
TERMS                   *Shareholders will receive shares of no par value in
                         European Asset Value Fund equivalent to 99% of the
                         French Property Trust Net Asset Value (After taking 
                         into account the Liquidation Fund and a Second Interim
                         Dividend of 4.3p as opposed to the 4.5p previously
                         intended.
PROVISIONAL EX ALL DATE  *17-01-00
RECORD DATE             *17-01-00
NOTES *


2ND INTERIM DIVIDEND
SECURITY TITLE
*Ord Shs
MNEMONIC CODE           *FRP
SEDOL CODE              *352-466
DIVIDEND AMOUNT         *4.3p
PROVISIONAL EX DATE     *04-01-00
RECORD DATE             *10-01-00
PAYMENT DATE            *17-01-00
NOTES *Amendment to the rate.