Net Asset Value(s)

TR Property Investment Trust PLC
26 July 2005


HENDERSON GLOBAL INVESTORS

26 JULY 2005



TR PROPERTY INVESTMENT TRUST PLC

As at close of business on 25 July 2005, the unaudited net asset value per share
calculated in accordance with the AITC formula (excluding current financial year
revenue items) was 166.2p and the net asset value per share including debt
marked at fair value was 163.4p.


                                    - ENDS -


For further information, please call:

John Hilton, Investment Trust Accounting Department

BNP Paribas Fund Services UK Limited

Tel: [phone]


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