BREI.L Regulatory News (BREI)

8 Oct 2007 10:35

ISIS Property Trust 2 Limited08 October 2007 To: Company AnnouncementsDate: 8 October 2007Company: ISIS Property Trust 2 Limited Subject: Net Asset Value Net asset value The unaudited net asset value per share of ISIS Property Trust 2 Limited as at30 September 2007 was 149.9 pence. This represents a decrease of 6.1 per cent,from the net asset value per share as at 30 June 2007 of 159.6 pence. The net asset value is based on the external valuation of the Group's propertyportfolio prepared by DTZ Debenham Tie Leung Limited. The net asset value is calculated under International Financial ReportingStandards ("IFRS"). The net asset value includes all income to 30 September 2007 and is calculatedafter deduction of all dividends paid prior to that date. It does not include aprovision for the dividend for the quarter to 30 September 2007 which isexpected to be paid in December 2007. Breakdown of NAV movement Set out below is a breakdown of the change to the unaudited net asset value pershare calculated under IFRS over the period from 30 June 2007 to 30 September2007. Pence per share % of opening NAV Net asset value per share as at 30 June 2007 159.6 Unrealised decrease in valuation ofproperty portfolio (including the effectof gearing) (7.7) (4.8)* Realised gains on sales of properties - - Decrease in interest rate swap valuation (1.7) (1.1) Movement in revenue reserves (0.3) (0.2) Net asset value per share as at 30September 2007 149.9 (6.1) \* The ungeared decrease in the valuation of the property portfolio over thequarter to 30 September 2007 was 3.6%. The property portfolio will next be valued by an external valuer during December2007 and the net asset value per share as at 31 December 2007 will be announcedin January 2008. Enquiries: The Company SecretaryNorthern Trust International Fund Administration Services (Guernsey) LimitedTrafalgar CourtLes BanquesSt Peter PortGuernseyGY1 3QL Tel: 01481 745001Fax: 01481 745051 Ian McBrydeScott MacraeF&C Investment Business Ltd Tel: 0207 628 8000Fax: 0131 225 2375 This information is provided by RNS The company news service from the London Stock Exchange