Portfolio Update

ISIS Property Trust 2 Limited
03 April 2007


To: RNS

From: ISIS Property Trust 2 Limited

Date: 3 April 2007


Listing Rule 15


In accordance with paragraph 15.4.11 (2) of the Listing Rules ISIS Property
Trust 2 Limited announces its top ten property investments, including all
holdings with a value greater than 5% of its total assets, as at 31 March 2007:

Property                                                      % of Total Assets
Unit 3663, Echo Park, Banbury                                              9.1
48-49, St. James's Street, London, SW1                                     8.9
Units 1-8, Lakeside Road, Colnbrook                                        6.8
Mercury House, 1, Dove Wynd, Strathclyde Business Park                     6.5
Southampton International Park, Eastleigh                                  6.4
30/40 , The Parade & 47/59A Warwick Street, Leamington Spa                 5.4
Hemel Gateway, Boundary Way, Hemel Hempstead                               4.8
Clifton Moor Gate, York                                                    4.7
Swift House, Cosford Lane, Rugby                                           3.9
The Clock Tower Brookwood                                                  2.8



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]




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