Changes at Investment Manager

To:                               Company Announcements

Date:                           20 October 2015

Company:                    AXA Property Trust Limited

Subject:                       Changes at Investment Manager

The Fund Manager

AXA Investment Managers have informed the Board that after eight years as Senior Fund Manager, Martin McGuire has resigned his position at AXA Investment Managers and will leave the organisation on 27^th November 2015. The Board wishes to thank Martin for his considerable contribution to the management of AXA Property Trust over this time and wish him well in his future career.

The Fund Manager responsibility will pass to Ian Chappell who is a Senior Fund Manager at AXA Investment Managers. Ian is a Member of the Royal Institution of Chartered Surveyors and joined AXA Investment Managers in 2007. He has over 20 years’ experience of the European real estate markets and has a detailed knowledge and understanding of both the Company and portfolio. There is not expected to be any material change in the conduct of the orderly wind down of the portfolio.

END

All Enquiries:

Investment Manager
AXA Investment Managers UK Limited
Broker Services
7 Newgate Street
London EC1A 7NX
Tel: [phone]
Email: [e-mail]

Broker
Stifel Nicolaus Europe Limited
Neil Winward / Mark Bloomfield / Matthew Marshall
Tel: [phone]

Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
Trafalgar Court
Les Banques
St Peter Port
GY1 3QL
Tel: [phone]