Net Asset Value(s)

ISIS Property Trust 2 Limited
13 April 2007


To: Company Announcements
Date: 13 April 2007
Company: ISIS Property Trust 2 Limited

Subject: Net Asset Value

Net Asset Value

The unaudited Net Asset Value per share of ISIS Property Trust 2 Limited as at
31 March 2007 was 154.7 pence (31 December 2006: 151.9 pence). This Net Asset
Value figure incorporates the external portfolio valuation as at 31 March 2007.

The Net Asset Value attributable to the Ordinary Shares is calculated under
International Financial Reporting Standards ('IFRS'). It includes all current
year income and is calculated after the deduction of dividends paid prior to 31
March 2007, but does not include provision for the quarterly interim dividend
which is expected to be paid in June 2007.

The property portfolio will next be valued by an external valuer during June
2007 and the Net Asset Value per share as at 30 June 2007 will be issued in July
2007.

All Enquiries:

The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL

Tel: [phone]
Fax: [phone]

Ian McBryde
Scott Macrae
F&C Investment Business Ltd

Tel: [phone]
Fax: [phone]




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