Re. Securitisation

Insight Foundation Property Tst Ltd
23 March 2005



23 March 2005



           Insight Foundation Property Trust Limited (the 'Company')



    INSIGHT FOUNDATION PROPERTY TRUST ANNOUNCES TERMS AND CONCLUSION OF ITS
                       SUCCESSFUL £152.5M SECURITISATION



In its interim results announcement on 26 November 2004, the Company noted that
it was finalising a £152.5m securitisation facility to re-finance its existing
interim debt facility and provide additional capacity to acquire further
properties. Completion of the refinancing has now been reached and the
transaction was fully subscribed.  An average weighted pricing has been set at
sub 21bps.



The transaction priced at the following levels:


Tranche         Rating              Type                Amount             Price

                S&P/Fitch
A               AAA/AAA             9.3yr FRN           £139m              20bps
B               AA/AA               9.3yr FRN           £13.5m             29bps





Commenting, Duncan Owen, Managing Director, Property at Insight Investment,
said:



'This has been a successful, innovative financing exercise at attractive
interest rates for the Insight Foundation Property Trust.  We are pleased to
have fully hedged the loan at below 5.1%, which means that the Trust's annual
costs of financing after allowing for the cost of establishing the facility are
in the order of 5.6%, some 70bps lower than the interest rate assumptions we
used at the time of launch last summer. Going forward, the strength and
efficiency of our capital structure gives us flexibility to continue to invest
in the business and thereby enhance shareholder value.'



Andrew Radkiewicz of Rothschild, the Arranger of the transaction, commented:



'We are very pleased to have worked with Insight on this transaction, and in
particular, to have structured the facility with the capability to raise further
funds in the future, whilst also providing the ability to manage the property
portfolio effectively.'



                                     -ENDS-



Enquiries:

Duncan Owen
Insight Investment Management
020 7321 1677

Paul Smith/Jeff Lanyon
RBSI
01481 740820

Stephanie Highett/ Dido Laurimore/Ed Gascoigne- Pees
Financial Dynamics
020 7831 3113






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