Property Purchase Completion

TR Property Investment Trust PLC
26 April 2007


                        TR PROPERTY INVESTMENT TRUST PLC

           TR Property Investment Trust buys  Harlow office building

TR Property Investment Trust PLC has exchanged and completed the purchase of a
freehold office building in Station Approach, Harlow for £12.5 million (total
cost £13.2 million including stamp duty and purchase fees). This equates to an
initial yield of 6.25%, a capital value of £197 psf and £3.78 million per acre.

Field House, which was built in 1986, is a four-storey, air-conditioned office
building of 67,000 sq ft, with 294 car parking spaces (car parking ratio of 1:
228 sq ft) on a site of 3.5 acres. The property is well located, overlooking
Harlow Town railway station, and is about 1/2 a mile from the town centre.

The whole building is let to Life Assurance Holding Corporation Ltd, a wholly
owned subsidiary of Swiss Re, for a further 51/2 years at a rent of £825,000 per
annum (£12.30 psf). The tenant does not currently occupy the property and has
sub-let to a variety of occupiers.

Chris Turner, Fund Manager, commented 'Office rents in Harlow have been static
for some years.  The passing rent of £12.30 psf dates from 1997 and is now lower
than office rents in the North of England.  Increased occupier demand and
falling supply as older stock is converted to residential space leads us to be
more optimistic about the future but it will be some time before rents support
new development. This is a good quality building, which is well suited to
multiple occupation and occupies a large, level site with potential for
alternative uses in the future. The purchase is in line with the Trust's
strategy of acquiring well specified and located buildings in the South East
with opportunities to add value.'


For further information contact:

Chris Turner
TR Property Investment Trust PLC
Tel: [phone]

James Wilkinson
TR Property Investment Trust PLC
020 7360 1333


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