RNS Number:8159T
Property Fund Management plc
05 January 2004


                          Property Fund Management plc

                               Holding in Company

In accordance with section 198 of the Companies Act 1985 (as amended), Property
Fund Management plc ("the Company") has been notified today by Hermes
Administration Services Limited that on 22 December 2003 BriTel Fund Trustees
Limited acquired 259,267 ordinary shares of 5p each in the share capital of the
Company. Following this acquisition Britel Fund Trustees Limited is interested
in 734,341 ordinary shares representing approximately 3.48 per cent. of the
Company's issued share capital.



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