TAP.L Regulatory News (TAP)

29 Apr 2005 10:00

Teesland Advantage Property Inc Tst29 April 2005 TEESLAND ADVANTAGE PROPERTY INCOME TRUST LIMITED (the "Company") NET ASSET VALUE PER SHARE Teesland Advantage Property Income Trust Limited is pleased to announce a NetAsset Value per share of 95.5 pence as at 31 March 2005. The Net Asset Value incorporates the portfolio revaluation as at 31 March 2005,which reflected an overall increase of 1.0% since the previous valuation at 31December 2004 . This increase was despite the abolition of stamp duty relief indisadvantaged areas, the effect of which was to reduce the value of theportfolio by approximately 1.0%. The Net Asset Value also includes the impact of the costs associated with buyingan additional office property in the Thames Valley for approximately £7,770,000,which was financed by an increase in bank borrowing under the existing loanfacility from Bank of Scotland. The additional property is an attractive modern office located on VanwallBusiness Park in Maidenhead and is let to Toys R US for approximately 8.5 years.The property complements the existing portfolio and offers a good opportunity tocapture strong rental growth as the Thames Valley office market recovers. For further information contact: Anson Fund Managers LimitedCompany Secretary Tel: Guernsey 01481 722260 29 April 2005 This information is provided by RNS The company news service from the London Stock Exchange