Holding(s) in Company

For filings with the FCA include the annex
For filings with issuer exclude the annex
TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: ii				AXA Property Trust Limited
2. Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments
An event changing the breakdown of voting rights
Other (please specify):	Please refer to section 13. Additional information				X
3. Full name of person(s) subject to the notification obligation: iii		AXA Investment Managers S.A.
4. Full name of shareholder(s)  (if different from 3.):iv
5. Date of the transaction and date on which the threshold is crossed or reached: v		20 November 2015
6. Date on which issuer notified:		24 November 2015
7. Threshold(s) that is/are crossed or reached: vi, vii		28.00% ; 27.00% ; 26.00% ; 25.00% ; 24.00% ; 23.00% ; 22.00% ; 21.00% ; 20.00% ; 19.00% ; 18.00% ; 17.00% ; 16.00% ; 15.00% ; 14.00% ; 13.00% ; 12.00% ; 11.00% ; 10.00% ; 5.00%

8. Notified details:
A: Voting rights attached to shares viii, ix
Class/type of shares if possible using the ISIN CODE	Situation previous to the triggering transaction		Resulting situation after the triggering transaction
	Number of Shares	Number of Voting Rights	Number of shares	Number of voting rights		% of  voting rights x
			Direct	Direct xi	Indirect xii	Direct	Indirect
GG00BZ21Q295	21,572,376	21,572,376	0	0	0	0.00 %	0.00 %

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

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi
Resulting situation after the triggering transaction
Type of financial instrument	Exercise price	Expiration date xvii	Exercise/ Conversion period xviii	Number of voting rights instrument refers to	% of voting rights xix, xx
					Nominal	Delta

Total (A+B+C)
Number of voting rights	Percentage of voting rights
0	0.00 %

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: xxi
Proxy Voting:
10. Name of the proxy holder:
11. Number of voting rights proxy holder will cease to hold:
12. Date on which proxy holder will cease to hold voting rights:
13. Additional information:	Thresholds crossed downward following the transfer of Friends Life funds to Aviva Investors Global Services Limited by AXA Investment Managers on 20 November 2015.
14. Contact name:	Pascaline HAYE
15. Contact telephone number:	[phone]

Note: Annex should only be submitted to the FCA not the issuer
Annex: Notification of major interests in sharesxxii
A: Identity of the persons or legal entity subject to the notification obligation
Full name (including legal form of legal entities)	AXA Investment Managers S.A.
Contact address (registered office for legal entities)	Cœur Défense, La Défense 4, Tour B, 100 Esplanade du Général de Gaulle 92932 La Défense Paris Cedex France
Phone number & email
Other useful information (at least legal representative for legal persons)
B: Identity of the notifier, if applicable
Full name
Contact address	Cœur Défense, La Défense 4, Tour B, 100 Esplanade du Général de Gaulle 92932 La Défense Paris Cedex France
Phone number & email
Other useful information (e.g. functional relationship with the person or legal entity subject to the notification obligation)	AXA Investment Managers Paris is a 100% subsidiary of AXA Investment Managers S.A.
C: Additional information
For notes on how to complete form TR-1 please see the FCA website.