Disposal

To: Company Announcements

Date: 05 May 2011

Company: AXA Property Trust Limited

Subject: Disposal of Assets

The Board announced that the sale of the Bernau retail warehouse property to a major German furniture retailer was completed on 30 April 2011. The sale price achieved was EUR 4.15m, which was 18.6% in excess of the valuation as at 31 March 2011.

All Enquiries:

Renee McIver

Company Secretary

Northern Trust International Fund Administration Services (Guernsey) Limited

Trafalgar Court

Les Banques

St Peter Port

Guernsey

GY1 3QL

Tel: 01481 745324

Fax: 01481 745085