RNS Number:8622T
BFS Managed Properties Ltd
05 January 2004

Disclosure requirement re: UKLA Listing Rule 21.20l(ii)

BFS Managed Properties Ltd (the "Company")

In accordance with UKLA Listing Rule 21.20l(ii), the following list represents
the Company's 10 largest investments as at 31 December 2003:




Name of company

Class of Share

Property Acquisition & Management

Ordinary

Morley Absolute Growth

Zero Dividend Preference

Investors Capital

Units

Progressive Geared Income

Ordinary

Edinburgh High Income

Ordinary

Premier Pacific Income

Ordinary

Investec High Income

Ordinary

Exeter Financials

Ordinary

Acorn Income

Ordinary

Jupiter Enhanced Income

Ordinary Income

All of the above investments have a market value less than 5% of the Company's
gross assets as at 31 December 2003.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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