Progress with Disposals

 5 February 2014

AXA Property Trust Limited

Progress with Disposals

The Board of AXA Property Trust Limited announces that the sale of the asset at Montabaur, Germany has been successfully completed for a price of £ 5.0m (€ 6.0m) which is in line with the latest independent valuation. The £ 1.2m (€ 1.4m) net proceeds after the pay down of related debt and disposal costs will be returned to Shareholders together with other cash reserves in accordance with the proposed redemption mechanism which is subject to Shareholder approval at the forthcoming EGM on 27 February 2014. A further announcement will be made in this respect after that EGM.

Enquiries:

Investment Manager

AXA Investment Managers UK Limited

Broker Services

7 Newgate Street

London EC1A 7NX

Tel: +44 (0)20 7003 2345

Email: [email protected]

Broker

Oriel Securities Limited

Mark Bloomfield

Neil Winward

Matthew Marshall

Tel: +44 (0)20 7710 7600

Company Secretary

Northern Trust International Fund Administration Services (Guernsey) Limited

Trafalgar Court

Les Banques

St Peter Port

GY1 3QL

Tel: +44 (0)1481 745324