APR Apr Energy

RNS Number:8216T
Aberdeen Preferred Income Trust PLC
28 March 2002


ABERDEEN PREFERRED INCOME TRUST PLC ("Abpref" or the "Company")

On 14 March 2002 Abpref announced inter alia that it was in discussions with
its bankers in respect of its banking position.

These discussions resulted in the prepayment on 27 March 2002 of the Company's
entire euro-denominated bank borrowings amounting to approximately EUR 34
million and GBP 12 million of its sterling-denominated bank borrowings.  The
Company's bank borrowings now amount to GBP 69 million, repayable as to GBP 39
million on 31 December 2002 and GBP 30 million on 17 October 2007.

Under the terms of the Company's banking agreements, its adjusted total assets
are required to be at least 200 per cent. of its total borrowings.  On the
basis of the unaudited management balance sheet as at 27 March 2002, the ratio
of adjusted total assets to total borrowings following the prepayments
referred to above was 196.58% per cent.

The Board is keeping the level of bank borrowings under review and will
continue discussions with the Company's bankers with a view to reaching
agreement on the future management of this gearing and the structuring of the
Company's bank covenant regime. 


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