Trading Statement - Replace

Primary Health Properties PLC
14 February 2008

14 February 2008



For Immediate Release



              Primary Health Properties PLC ("PHP" or the "Group")

   a specialist provider of modern accommodation for the provision of Primary
                              Health Care Services

                         Correction - Trading Statement


In the Company's trading statement released on 13 February 2008, the posting
date for dividend warrants in the interim calendar was incorrectly stated.  The
corrected interim calendar should therefore read as follows:


Ex dividend date            20 February 2008
Record date                 22 February 2008
Last day of election        27 February 2008
Post dividend warrants      27 March 2008
Payment date                28 March 2008
Post Statements             24 hours after receipt of contract note from brokers
Post share certificates     11 April 2008



As a result, the following announcement replaces the announcement released at
11:35 on 13 February 2008 under RNS number 9070N.



              Primary Health Properties PLC ("PHP" or the "Group")
   a specialist provider of modern accommodation for the provision of Primary
                              Health Care Services


                               Trading Statement


In the light of prevailing market conditions, PHP believes that it is
appropriate to make a trading statement.  The preliminary results for the
eighteen months ended 31 December 2007 are expected to be issued on or about 10
April 2008.

The Board is in the process of finalising the valuation of the property
portfolio of the Group as at 31 December 2007 which, once finalised will be
included in the preliminary results statement. Having held discussions with the
independent valuers, Lambert Smith Hampton, the Board is of the view that as at
31 December 2007, medical property as an asset class has weakened in yield terms
by some 35 basis points since 30 June 2007.

In addition, as at 31 December 2007, the mark to market valuation of the Group's
derivatives shows a reduction in value of £9.3m. Of these losses, £6.5m is
expected to be recorded as a movement in equity in relation to bank interest
rate swaps qualifying as hedges under IFRS and £2.8m is expected to be recorded
in the income and expenditure account.  The swaps were entered into at various
dates to hedge out the Group's exposure to higher interest rates. The mark to
market value fluctuates with movements in term interest rates and in the case of
the callable swap with market volatility.

The Board proposes to pay a third interim dividend of 8.25p per Ordinary Share.
This compares to 7.5p for each of the two previous interim dividends.  As
explained at the time of the conversion to a UK-REIT, distributions from the
Company may comprise property income distributions ("PID"s), ordinary cash
dividends or a combination of the two.    The third interim dividend is an
ordinary cash dividend and not a PID.  The dividend will be paid on 28 March
2008 to Shareholders on the Register on 22 February 2008.  Details of the
Group's status and the tax treatment of distributions for Shareholders were
included in the interim report for the six months ended 30 June 2007 and can be
found on the Group's web site (www.phpgroup.co.uk).

Both the adjustment to the property portfolio and the mark to market are
non-cash items. The average rate of the swaps in place during the period was
lower than the prevailing LIBOR rate thus saving the Group considerable amounts
of cash outflow and has resulted in the Group having a lower interest rate risk
profile.

The Group's portfolio of 107 properties (including 8 contracted schemes) is
almost 100% let with an average lease length outstanding of 18.36 years. 89% of
the rent roll is paid for directly or indirectly by the NHS and most of the
balance is let to pharmacy operators.   The closing rent roll for the year ended
31 December 2007 on an FRI basis was £16.1m compared to £14.5m for the year to
30 June 2007. 93% of the increase related to new deliveries and 7% to rental
increases secured during the period.

The Group has now signed heads of terms in relation to a new £50m secured debt
facility to augment its existing facilities of £200m, making total resources
available to the Group of £250m. As at 31 December 2007, £156m was drawn and,
taking into account existing outstanding commitments of around £30m, leaves a
further £64m of facilities available to the Group to continue with its
acquisition policies. These term facilities mature in 2013.



Interim Calendar

Ex dividend date            20 February 2008
Record date                 22 February 2008
Last day of election        27 February 2008
Post dividend warrants      27 March 2008
Payment date                28 March 2008
Post Statements             24 hours after receipt of contract note from brokers
Post share certificates     11 April 2008



Enquiries:

Bell Pottinger Corporate & Financial
David Rydell/Victoria Geoghegan
Tel: [phone]


Primary Health Properties PLC
Harry Hyman
Managing Director
Tel: [phone]
Mobile: [phone]










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