Replacement : Notification of Major Share Interest

This is a correction to the announcement made at 10:45am today. The number of voting rights in section 8 showed2,993,763 -- this has been corrected to 2,993,761, all other details remain the same. For filings with the FCA include the annex For filings with issuer exclude the annex TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi 1. Identity of the issuer or the underlying issuer AXA PROPERTY TRUSTof existing shares to which voting rights are LTD.attached:ii ISIN: GB00B06T2607 2. Reason for the notification (please tick the appropriate box or boxes): An acquisition or disposal of voting rights X An acquisition or disposal of qualifying financial instruments which may resultin the acquisition of shares already issued to which voting rights are attached An acquisition or disposal of instruments with similar economic effect toqualifying financial instruments An event changing the breakdown of voting rights Other (please specify): 3. Full name of person(s) subject to the KG INVESTMENTS FUND LLCnotification obligation:iii 4. Full name of shareholder(s) (if different from 3.):iv 5. Date of the transaction and date onwhich the threshold is crossed or 7/31/2014reached: v 6. Date on which issuer notified: 7/31/2014 7. Threshold(s) that is/are crossed or OWNERSHIP DECREASED TO 3.24%reached: vi, vii 8. Notified details: A: Voting rights attached to shares viii, ix Class/type Situation previous Resulting situation after the triggering transactionof to the triggeringshares transaction if possible Number Number Number Number of voting % of voting rightsusing of of of shares rights xthe ISIN Shares VotingCODE Rights Direct Direct xi Indirect xii Direct IndirectISIN:GB00B06T2607 5,993,761 5,993,761 2,993,761 2,993,761 3.24% B: Qualifying Financial Instruments Resulting situation after the triggering transaction Type of Expiration Exercise/ Number of voting % of votingfinancial date xiii Conversion Period xiv rights that may be rightsinstrument acquired if the instrument is exercised/ converted. C: Financial Instruments with similar economic effect to Qualifying FinancialInstruments xv, xvi Resulting situation after the triggering transaction Type of Exercise price Expiration Exercise/ Number of voting rights % of votingfinancial date xvii Conversion instrument refers to rights xix, xxinstrument period xviii Nominal Delta Total (A+B+C) Number of voting rights Percentage of voting rights 2,993,761 3.24% 9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi Proxy Voting: 10. Name of the proxy holder: 11. Number of voting rights proxy holder will ceaseto hold: 12. Date on which proxy holder will cease to holdvoting rights: 13. Additional information: 14. Contact name: TOM YAU 15. Contact telephone number: 646-415-6237 Note: Annex should only be submitted to the FCA not the issuer Annex: Notification of major interests in sharesxxii A: Identity of the persons or legal entity subject to the notificationobligation Full name KG INVESTMENTS FUND(including legal form of legal entities) LLC Contact address 3 COLUMBUS CIRCLE, SUITE 1402(registered office for legal entities) NEW YORK, NY 10019 Phone number & email 212-247-4590 TOM@KGFUNDS.COM; JIN@KGFUNDS.COM Other useful information (at least legal representative for legal persons) B: Identity of the notifier, if applicable Full name Contact address Phone number & email Other useful information (e.g. functional relationship with the person or legal entitysubject to the notification obligation) C: Additional information For notes on how to complete form TR-1 please see the FCA website.