Acquisition

AXA Property Trust Ld
11 November 2005


AXA PROPERTY TRUST LIMITED MAKES INITIAL PROPERTY ACQUISITIONS IN EUROPE

AXA Property Trust Limited announces that it has contracted to acquire 6
properties for approximately €40 million, consisting of retail properties in
Germany and a logistics property in the Netherlands.

These properties are well let with an average lease length of approximately 12
years. The properties show a net initial yield in excess of 7 per cent and are
in accordance with the pricing and property characteristics applied in the
modelled return projections of the prospectus at launch in May of this year.

AXA Property Trust Limited expects to announce the successful acquisition of
further properties in the coming months.

AXA Property Trust's real estate advisers, AXA REIM, are demonstrating their
ability to identify suitable investments through their exceptionally wide
network of offices across Europe.

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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