Net Asset Value(s)

ING UK Real Estate Income Trust Ltd
20 January 2006


ING UK Real Estate Income Trust Limited
20 January 2006 - Net Asset Value

The Net Asset Value per Ordinary Share of ING UK Real Estate Income Trust
Limited at 31 December 2005 was 104.0 pence each, calculated on a capital basis
under International Financial Reporting Standards.

This is an increase of 5.1 percentage points over the last reported net asset
value of 99 pence at the launch date, 25 October 2005. This Net Asset Value
figure incorporates the external portfolio valuation at 31 December 2005.

The Property Portfolio will next be valued by an external valuer during March
2006 and the next quarterly Net Asset Value will be published in April 2006.



All Enquiries:

The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Ltd
Trafalgar Court
Les Banques
GY1 3Q1

Tel: [phone]
Fax: [phone]



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