Holding(s) in Company

ISIS Property Trust 2 Limited
01 June 2004


ISIS Property Trust 2 Limited ('ISIS 2')

ISIS Property Trust 2 Limited is aware of the following interests in its share
capital as at 1 June 2004, which amount to three per cent. or more of its issued
ordinary share capital:

Friends Provident Life Assurance Limited                  20,000,000      18.10%
Friends First Life Assurance Co. Ltd.                     15,000,000      13.57%
Clients of Scottish Widows Investment Partnership Limited 10,000,000       9.05%
Clients of Rathbones Investment Management Limited         9,497,350       8.59%
Clients of Saunderson House Limited                        5,000,000       4.52%
Clients of Brewin Dolphin Securities Limited               4,222,000       3.82%
Clients of Turcan Connell                                  3,542,000       3.21%

Enquiries: Guernsey International Fund Managers Limited
           Company Secretary
           01481 745338


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