Holding(s) in Company

AXA Property Trust Ld
29 May 2007



TR-1(i): notification of major interests in shares

1. Identity of the issuer or the underlying issuer AXA Prop
of existing shares to which voting rights are      --------------------
attached(1):
-------------------------------
2. Reason for the notification (please tick the appropriate box or boxes)
                                                                            -------
--------------------------------------------
An acquisition or disposal of voting rights
--------------------------------------------                               -------
An acquisition or disposal of financial instruments which may result in
the acquisition of shares already issued to which voting rights are        -------
attached
--------------------------------------------
An event changing the breakdown of voting rights
--------------------------------------------                               -------
Other (please specify):____Disclosure for purposes of
transparency_______                                                        -------
--------------------------------------------
3. Full name of person(s) subject to the           Rensberg Sheppards Investment
notification obligation(1):                        Management Limited
-------------------------------                    --------------------
4. Full name of shareholder(s) (if different from  N/A
3.)(1):                                            --------------------
-------------------------------
5. Date of the transaction (and date on which the  23 May 2007
threshold is crossed or reached if different)(1):  --------------------
-------------------------------
6. Date on which issuer notified:                  24 May 2007
-------------------------------                    --------------------
7. Threshold(s) that is/are
crossed or reached:                                                             4%
-------------------------------                                --------------------
8. Notified details:                               Nominee Holdings
-------------------------------                    --------------------



A: Voting rights attached to shares
Class/type Situation previous to   Resulting situation after the triggering
of         the Triggering          transaction(1)
shares     transaction (1)
if
possible   Number   Number of      Number   Number of voting   % of voting
using the  of       Voting Rights  of       rights ix          rights
ISIN       Shares   viii           shares
CODE                               Direct   Direct Indirect    Direct   Indirect
                                            x      xi
Ordinary
Shares NPV
GB006T2607                                         4,505,495                4.51%

B: Financial Instruments
Resulting situation after the triggering transaction xii
Type of      Expiration Exercise/      Number of voting rights that may % of
financial    date       Conversion     be acquired if the instrument is voting
instrument   xiii       Period/ Date   exercised/ converted.            rights
                        xiv

Total (A+B)
Number of voting rights                      % of voting rights
                                 4,505,495                                4.51%




9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable xv:
Client holdings registered in the name of Nominee companies 100% owned by
Rensburg Sheppards Investment Mangement Limited.

Proxy Voting:
10. Name of the proxy holder:                                             N/A
11. Number of voting rights proxy holder will cease to hold:              N/A
12. Date on which proxy holder will cease to hold voting rights:          N/A

13. Additional information:                          N/A
14. Contact name:                                    Dave Sauvarin
15. Contact telephone number:                        01481 745529
Annex Notification Of Major Interests In Shares xvi
A: Identity of the person or legal entity subject to the notification
obligation
Full name (including legal form for legal        Rensburg Sheppards Investment
entities)                                        Management Limited
Contact address (registered office for legal     Quayside House
entities)
                                                 Canal Wharf
                                                 Leeds LS11 5PU
Phone number                                     0113 259 5872
Other useful information (at least legal         Mike Rigby
representative for legal persons)
                                                 (Head of Compliance)

B: Identity of the notifier, if applicable xvii
Full name                                                         Philip Martin
                                                                  Beardwell
Contact address                                                   2 Gresham
                                                                  Street
                                                                  London EC2V
                                                                  7QN
Phone number                                                      020 7597
                                                                  1356
Other useful information (e.g. functional relationship with the   Compliance
person or legal entity subject to the notification obligation)    Officer

C: Additional information
This disclosure is made by Rensburg Sheppards Investment Management Limited
based on Nominee holdings in accordance with DTR 5.2.1(F).




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