Contract

Savills PLC
11 August 2000


                       Savills plc
 Savills Finance Limited in advisory role for pioneering
                     Schroders fund
           The Residential Property Unit Trust
      £30m contracts exchanged on residential units
                            
Schroder Property Managers (Jersey) Limited today
announced that The Residential Property Unit Trust
('ResPUT'/'the Fund'), a Jersey based unit trust
investing in the private rented residential sector across
the UK, had entered into contracts for £30m of new
purchases.

Savills plc, through its wholly owned subsidiary Savills
Finance Limited ('SFL'), has played a central role in the
set up of the Fund.  As Fund Operations Advisor, SFL will
provide ongoing operational and asset management support
to the Fund's UK Property Advisor, Schroder Property
Investment Management.  Savills' involvement is secured
through the appointment of FPDSavills Corporate
Residential Management as the Fund's first property
manager.


Julian Meggeson, Director of Savills Finance Limited
said: 'SFL's unique blend of skills and experience has
allowed us to make a major contribution to this
innovative project and we are now placed at the leading
edge of an emerging asset class.'

Keith White, Managing Director of Corporate Residential
Management at FPDSavills said: 'We have developed our
residential property management systems in order to meet
the exacting requirements of institutional investors.
ResPUT provides the opportunity for FPDSavills to
demonstrate that returns from institutionally held
residential investments can be maximised through
efficient and effective management.'


For further information please contact:

Julian Meggeson, Director, SFL          020 7499 8644

Keith White, MD, FPDSavills
Corporate Residential Management        01865 207225

Peter Warwick, FPDSavills Press Office  020 7408 5547

Andy Yeo, Buchanan Communications       020 7466 5000

Bill Hughes, Schroder Property
Investment Management                   020 7658 3094

Christopher Joll, GCI Financial         020 7398 0800

Editors Notes

Savills Finance Limited
Savills Finance Limited is a direct subsidiary of Savills
Finance Holdings plc, which is the holding company for
the Savills plc group's financial services and principal
property trading and investment businesses.  The
principal activity of Savills Finance Limited, which is
regulated by the Securities and Futures Authority, is
corporate finance advisory work.

The Residential Property Unit Trust ('ResPUT')
The objective of ResPUT is to provide a high quality
growing income stream by focusing upon one and two
bedroom modern and new build apartments, which are well
placed to capture the anticipated widespread demand for
rental accommodation.  The Fund is currently targeting a
distribution yield, after all property and unit trust
costs, of 6%. The first tranche of investment purchases
include Exchange Court, Maiden Lane, Covent Garden (20
units); Timothy Close, Clapham; Fallowfield, Manchester
(20 units); Headford Mews, Sheffield; UK Portfolio from
Pemberstone (324 units). Founder investors include the
Schroder Exempt Property Unit Trust ('SEPUT'), a number
of offshore investors and a UK property company. The Fund
is open-ended and the Manager, Schroder Property Managers
(Jersey) Limited, anticipates that it will grow to a
value of £100 million within the next 12 months. The
medium-term target is to increase the fund to £500
million invested.