Portfolio Update

AXA Property Trust Ld
02 January 2008


To: RNS

From: AXA Property Trust

Date: 2 January 2008


Listing Rule 15


In accordance with paragraph 15.4.11 (ii) of the Listing Rules, AXA Property
Trust Limited announces its ten largest investments, including all investment
with a value greater than 5% of its gross assets, as at 31 December 2007:


Country         Location                       Status      % of total assets


1 Germany       Phoenix Centre, Fuerth         Completed   12.2%

2 Germany       Bahnhofstrasse, Rothenburg     Completed   11.5%
                ob der Tauber

3 Italy         Multiplex, Curno, Bergamo      Completed    8.3%

4 Italy         SS Bergamina, Agnadello        Completed    7.3%

5 Germany       Am Birkfeld, Dasing            Completed    5.3%

6 Netherlands   Smakterweg, Venray             Completed    5.0%

7 Germany       Industriestrasse, Montabaur -  Completed    4.8%
                Heiligenroth

8 Germany       Bahnhofstrasse, Karben         Completed    4.8%

9 Germany       Ruednitzer Chausse, Bernau     Completed    4.5%

10 Germany      Nuerberger Strasse,            Completed    3.8%
                Treuchtlingen


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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