Portfolio Update

2 Jul 2008 13:11

To: RNS

From:  AXA Property Trust

Date:  2 July 2008

AXA Property Trust Limited announces its ten largest investments, including all investments with a value greater than 5% of its gross assets, as at 30 June 2008: 

Country  Location  Status % of total  assets

1 Germany Phoenix Centre, Fuerth Completed 11.9%

2 Germany  Bahnhofstrasse, Rothenburg  Completed 11.2%

3 Italy Multiplex, Curno, Bergamo Completed 8.4%

4  Italy SS Bergamina, Agnadello Completed 7.5%

5 Germany Am Birkfeld, Dasing Completed 5.1%

6 Netherlands Smakterweg, Venray Completed 4.8%

7 Germany Industriestrasse, Montabaur  Completed 4.6%

8 Germany Bahnhofstrasse, Karben Completed 4.5%

9 Germany Ruednitzer Chausse, Bernau Completed 4.1%

10 Germany Nuernberger Strasse, Treuchtlingen Completed 3.5%

All Enquiries:

The Company Secretary 

Northern Trust International Fund Administration Services (Guernsey) Limited

Trafalgar Court

Les Banques

St Peter PortGuernsey

GY1 3QL

Tel: 01481 745529