Acquisition

AXA Property Trust Ld
23 March 2006




AXA PROPERTY TRUST MAKES A FURTHER ACQUISITION IN EUROPE


AXA Property Trust Limited announces that it has contracted to acquire an out of
town retail centre with a small element of leisure and some development
potential in Fuerth, Germany for approximately €25 million.

The property shows a net initial yield in excess of 7 per cent. This acquisition
further enhances the portfolio that the Company has been building since its
launch last May and takes the total value of contracted properties or properties
under option to approximately €130 million since launch.

As indicated in the last acquisition press release, this is just one of a number
of transactions which AXA Real Estate Investment Managers is negotiating on
behalf of the Company.



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