WPFI Westbury Inc

RNS Number:2422H
Westbury Property Fund Limited
04 August 2006

Westbury Property Fund Limited
4 August 2006

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF
AMERICA, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN

The Westbury Property Fund Limited ("Westbury" or the "Company")

RESULT OF OPEN OFFER

On 13 July 2006, Westbury announced a placing and open offer of 42,857,143 New
Ordinary Shares at 140 pence per share to raise #60 million (approximately #57.6
million after expenses) which will be used to fund the Company's port operations
at Weston Point in Runcorn, Cheshire and to invest in further commercial
property assets for the Company's Balanced and Venture Portfolios.

The Board of Westbury announces that on 3 August 2006, being the latest date for
receipt of completed Application Forms and Excess CREST Application Forms and
payment in full under the Open Offer or settlement of the relevant CREST
instruction, valid applications had been received from Qualifying Shareholders
in respect of 7,966,072 New Ordinary Shares, representing approximately 56.0 per
cent. of the New Ordinary Shares available under the Open Offer.

The 6,260,950 New Ordinary Shares not applied for by Qualifying Shareholders
under the Open Offer will be taken up by placees under the terms of the Placing
Agreement.

The New Ordinary Shares will, on Admission, rank in full for all dividends and
other distributions declared, made or paid on the Existing Ordinary Shares after
Admission and will otherwise rank pari passu in all respects with the Ordinary
Shares in issue at the date of the Prospectus.

The Placing and Open Offer remains conditional upon, inter alia, admission of
the New Ordinary Shares to the Official List and to trading on the London Stock
Exchange's market for listed securities and the passing of certain Resolutions
by the Company's shareholders at the EGM to be held on 7 August 2006.
Application has been made to the UK Listing Authority for the New Ordinary
Shares to be admitted to the Official List and to the London Stock Exchange for
admission to trading on its market for listed securities. It is expected that
Admission will become effective and dealings in the New Ordinary Shares will
commence on 8 August 2006.

Terms used in this Announcement shall have the same meanings as in the
Prospectus which was sent to Shareholders on 13 July 2006.


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

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