Final Results - Highlights

RNS Number:9090R
Westbury Property Fund Limited
27 February 2007

Press release                                                   27 February 2007



                       THE WESTBURY PROPERTY FUND LIMITED


ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR FROM 1 JANUARY
                            2006 TO 31 DECEMBER 2006


Highlights


  * 2006 total return to Ordinary Shareholders for 2006 of 37.9% (2005: 27.2%)


  * Net asset value per share due to Ordinary Shareholders up 33.2% over the
    year to 169.10p (2005: 127.9p) net of dividends paid and fund manager's
    performance fee accrual


  * On a three year basis to December 2006 the Company achieved a total return
    of 26.6% per annum compared to its benchmark which returned 18% per annum,
    placing the Fund 1st in its peer group of 56 over the period


  * Ordinary Share dividends of 6p for the 12 months to 31 December 2006


  * Majority of the wholly owned property portfolio is being marketed with a
    view to disposal in order to realise the outstanding returns achieved for
    shareholders to date


  * Good progress being made in meeting the business plan for the development
    and site operations of a fully operational port at Weston Point Docks by the
    Company's wholly owned subsidiary, Westlink Group, which has recently
    appointed a Chief Executive


  * Westlink Group has acquired a rail freight operating business through its
    subsidiary Victa Westlink Rail and will be generating income from the
    provision of rail freight services from the Weston Point Docks site and any
    other sites that can be acquired in the UK and connected via the rail
    network


  * Four further venture investments were made in 2006 making a total of eight
    joint venture investments held in the venture portfolio with an  aggregate
    equity held in these joint ventures of #57.2m


The Westbury Property Fund Limited ("The Company") today announced its results
for the twelve months to 31 December 2006.


Commenting, Richard Burrell, Investment Manager to the Company, said:


"This has been another excellent year for The Westbury Property Fund. The
Company has performed well against the IPD benchmark placing it 1st in its peer
group of 56 over the last three years and providing Ordinary Shareholders with a
total return of 37.9% in 2006."


"We are confident that the disposal of much of the commercial property portfolio
and the acquisition of asset backed operating businesses offers the Company the
best potential to achieve sustainable superior returns for shareholders going
forward."


On the outlook for 2007, Mr Burrell continued:


"2007 will see the Company work towards the further expansion of the ports, rail
and joint venture businesses. We are already building a strong track record in
joint venture investments and anticipate making further equity investments
shortly.



The full text of the results are available on RNS.


                                  - e n d s -



For further information, please contact:

Louise Bathersby                                Henrietta Guthrie/Sarah Campbell
Assura Fund Management                          Lansons Communications
020 7107 3800                                   020 7294 3612 / 020 7566 9703



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