Portfolio Update

AXA Property Trust Ld
03 October 2006


To:         RNS

From:       AXA Property Trust

Date:       3 October 2006


Listing Rule 15


In accordance with paragraph 15.4.11 (2) of the Listing Rules, AXA Property
Trust Limited announces its top ten property investments, including all holdings
with a value greater than 5% of its gross assets, as at 30 September 2006.

Country      Location                                        % of total assets

Italy        SS Bergamina, Agnadello                                      19.5%
Germany      Phoenix Centre, Fuerth                                       17.3%
Italy        Multiplex, Curno, Bergamo                                    12.0%
Germany      Am Birkfeld, Dasing                                           7.1%
Netherlands  Smakterweg, Venray                                            7.0%
Germany      Ruednitzer Chaussee, Bernau                                   6.5%
Belgium      Keyser Center, Antwerp                                        4.7%
Germany      Frankfurter Strasse, Wuerzburg                                3.8%
Germany      Buergermeister-Hess-Strasse, Muehldorf am Inn                 3.7%
Germany      Landshuter Strasse, Moosburg                                  3.3%


All Enquiries:


The Company Secretary

Northern Trust International Fund Administration Services (Guernsey) Limited

Trafalgar Court

Les Banques

St Peter Port

Guernsey

GY1 3QL


Tel: [phone]



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