Acquisition

AXA Property Trust Ld
03 May 2007


To: Company Announcements
Date: 02 May 2007
Company: AXA Property Trust Limited


Subject: Acquisition



AXA PROPERTY TRUST LIMITED ACQUIRES €35 MILLION INTEREST IN DUTCH OFFICE
PORTFOLIO


The Board is pleased to announce that AXA Property Trust Limited ('the Company')
has agreed to acquire an interest in a consortium which is contracted to
purchase from AZL Vastgoed Kantoren N.V. a portfolio of 58 office properties
located across the Netherlands.


The Company's commitment of €35.1 million cash consideration plus acquisition
costs of approximately €2.3 million represents a 12.1% interest in the
consortium. The value of the portfolio to be acquired is estimated to be
approximately €290 million and is expected to generate annual net income of
€17.7 million. The transaction is scheduled to complete 1 June 2007.


The four other members of the consortium (which are each managed or advised by
AXA REIM) are European Added Value Fund LP, European Real Estate Opportunity
Fund II LP, AXA Sun Life plc and European Office Income Venture SCA.


This acquisition brings the Company's total contracted and optioned portfolio of
properties by gross purchase price, including acquisition costs, to €214
million, giving a blended gross portfolio yield of 7.9% based on gross
acquisition price. The Company is now 89% invested, with the €26 million balance
of investible funds allocated to specific investments and currently in
solicitors' hands.



All Enquiries:


The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
Trafalgar Court
Les Banques
St Peter Port
GY1 3QL

Tel: [phone]
Fax: [phone]




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