Purchase of Property

TR Property Investment Trust PLC
08 June 2004


TR PROPERTY INVESTMENT TRUST PLC

HENDERSON GLOBAL INVESTORS


           TR Property Investment Trust buys EC3 City office building

TR Property Investment Trust plc (TRPIT) has simultaneously exchanged and
completed the purchase of the freehold interest in 6 Lloyd's Avenue in the City
of London (EC3) for £8.275 million.

The property is a 34,500 sq ft office building let to 21 tenants paying a total
rent of £666,000 per annum, a net yield of 7.6% after accounting for purchase
costs. By floor area, 23% (7,900 sq ft) is currently vacant, which provides
opportunities for income growth over the short to medium term. Average rent on
the let space is £25 per square foot.

This is the first direct property investment purchased by the Trust since
February 2001. In the last year, the Trust sold 4 properties to take advantage
of rising prices and reinvested the proceeds in property equities to take
advantage of the wide discounts to asset value and increasing dividends. Further
disposals are in solicitors' hands.

Chris Turner, Fund Manager, commented 'City office rents appear to be at the
bottom of the current cycle, so we think this acquisition is timely. The passing
rents are low and the price per square foot we have paid for the building is
less than the cost of replacement.'

                                     -ends-

For further information, please contact:

Chris Turner
Fund Manager
TR Property Investment Trust plc
Telephone: [phone]

Stephen Westwood
Head of Investment Trusts
Henderson Global Investors
Telephone: [phone]

Stephen Phillips
Associate Director
Henderson Global Investors
Telephone: [phone]

Vicki Staveacre
Head of Corporate Affairs
Henderson Global Investors
Telephone: [phone]



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