PFM Property FD Mgt

RNS Number:1680C
Teesland Plc
20 August 2004

20 August 2004

For immediate release


                                  TEESLAND PLC

                        ACQUISITION OF ADDITIONAL SHARES

                        IN PROPERTY FUND MANAGEMENT PLC


Teesland plc announces that, following the announcement it made on 19 August
2004, it acquired in the market an additional 400,000 ordinary shares in
Property Fund Management plc ("PFM") at a price of 148p per share, taking its
total holding to 3,305,537 (14.9% of PFM's ordinary shares in issue).




Enquiries to:

Jeremy Carey, Tavistock Communications - 020 7920 3150
Richard Davies, British Linen Advisers - 020 7710 8811
Mickola Wilson, Teesland - 020 7318 2846


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