Result of Sale of Shares

Insight Foundation Property Tst Ltd
24 February 2005


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES,
CANADA, AUSTRALIA OR JAPAN.


Insight Foundation Property Trust Limited

24 February 2005


SALE OF SHARES

This announcement appears as a matter of record only.


The bookbuilding process in connection with the placing (the 'Placing') by
Cazenove & Co. Ltd ('Cazenove') on behalf of Clerical Medical Investment Group
Limited ('CMIG'), of existing ordinary shares in Insight Foundation Property
Trust Limited ('IFPT'), which was announced on 24 February 2005, has now closed.

An aggregate of 50,000,000 million shares in IFPT (amounting to 19.23 per cent
of the issued share capital of IFPT) were placed at a price of 108p per share
and will be settled on 1 March 2005.  As a result of this sale, CMIG holds
110,000,000 Shares representing 42.31 per cent. of the issued share capital of
IFPT.


Enquiries:

Duncan Owen       (Insight Investment Management)        0207 321 1677

Richard Cotton    (Cazenove & Co. Ltd)                   020 7588 2828


This announcement is for information purposes only and does not constitute an
offer or an invitation to acquire or dispose of any securities.


This announcement is not for distribution directly or indirectly in or into the
United States, Canada, Australia or Japan. This announcement does not constitute
an offer to sell or issue or the solicitation of an offer to buy or acquire
ordinary shares in the capital of IFPT in the United States, Canada, Australia
or Japan or any jurisdiction in which such an offer or solicitation is unlawful.
The ordinary shares in IFPT referred to in this announcement have not been and
will not be registered under the Securities Act and may not be offered or sold
within the United States absent registration or an exemption from registration.
No public offering of securities will be made in the United Kingdom, the United
States, Canada, Australia, Japan or elsewhere.

This announcement has been issued on behalf of CMIG by Cazenove & Co. Ltd who
are regulated in the United Kingdom by the Financial Services Authority and does
not constitute an offer to sell or a solicitation of an offer to purchase any
securities. Cazenove & Co. Ltd are acting exclusively for CMIG and no one else
in connection with the Placing and will not be responsible to anyone other than
CMIG for providing the protections afforded to clients of Cazenove & Co. Ltd nor
for providing any advice in relation to the Placing or any other matters
referred to in this press announcement.


END



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