Holding(s) in Company

AXA Property Trust Ld
10 April 2008



TR-1(i): Notification of major interests in shares

+----------------------------------------------+------------------------------+
|1. Identity of the issuer or the underlying   |      AXA Property Trust      |
|issuer of existing shares to which voting     |                              |
|rights are attached[ii]:                      |                              |
+----------------------------------------------+----------------------+-------+
|2. Reason for the notification (please tick the appropriate box or   |   x   |
|boxes)                                                               |       |
+---------------------------------------------------------------------+-------+
|An acquisition or disposal of voting rights                          |       |
+---------------------------------------------------------------------+-------+
|An acquisition or disposal of financial instruments which may result |       |
|in the acquisition of shares already issued to which voting rights   |       |
|are attached                                                         |       |
+---------------------------------------------------------------------+-------+
|An event changing the breakdown of voting rights                     |       |
+---------------------------------------------------------------------+-------+
|Other (please specify):____Disclosure for purposes of                |       |
|transparency_______                                                  |       |
+----------------------------------------------+----------------------+-------+
|3. Full name of person(s) subject to the      |Rensburg Sheppards Investment |
|notification obligation[iii]:                 |      Management Limited      |
+----------------------------------------------+------------------------------+
|4. Full name of shareholder(s) (if different  |             N/A              |
|from 3.)[iv]:                                 |                              |
+----------------------------------------------+------------------------------+
|5. Date of the transaction (and date on which |       28 February 2008       |
|the threshold is crossed or reached if        |                              |
|different)[v]:                                |                              |
+----------------------------------------------+------------------------------+
|6. Date on which issuer notified:             |       29 February 2008       |
+----------------------------------------------+------------------------------+
|7. Threshold(s) that is/are crossed or        |              5%              |
|reached:                                      |                              |
+----------------------------------------------+------------------------------+
|8. Notified details:                          |Nominee Holdings              |
+----------------------------------------------+----------------------+-------+
+----------------------------------------------+----------------------+-------+







+--------------------------------------------------------------------------------+
|A: Voting rights attached to shares                                             |
+------------+-------------------+-----------------------------------------------+
|Class/type  |Situation previous |Resulting situation after the triggering       |
|of shares   |to the Triggering  |transaction[vii]                               |
|            |transaction [vi]   |                                               |
|if possible +---------+---------+--------+---------------------+----------------+
|using the   |Number of|Number of|Number  |Number of voting     |% of voting     |
|ISIN CODE   |Shares   |Voting   |of      |rights ix            |rights          |
|            |         |Rights   |shares  |                     |                |
|            |         |viii     +--------+----------+----------+-------+--------+
|            |         |         |Direct  |Direct x  |Indirect  |Direct |Indirect|
|            |         |         |        |          |xi        |       |        |
+------------+---------+---------+--------+----------+----------+-------+--------+
|  Ordinary  |4,505,495|4,505,494|        |          |5,012,515 |       | 5.01%  |
| Shares NPV |         |         |        |          |          |       |        |
|            |         |         |        |          |          |       |        |
|GB00B06T2607|         |         |        |          |          |       |        |
+------------+---------+---------+--------+----------+----------+-------+--------+

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

+-------------------------------------------------------------------------------+
|Total (A+B)                                                                    |
+--------------------------------------+----------------------------------------+
|Number of voting rights               |% of voting rights                      |
+--------------------------------------+----------------------------------------+
|              5,012,515               |                 5.01%                  |
+--------------------------------------+----------------------------------------+








+-----------------------------------------------------------------------------+
|9. Chain of controlled undertakings through which the voting rights and/or   |
|the financial instruments are effectively held, if applicable xv:            |
+-----------------------------------------------------------------------------+
|Client holdings registered in the name of Nominee companies 100% owned by    |
|Rensburg Sheppards Invemsnt Management Limited.                              |
+-----------------------------------------------------------------------------+

+-----------------------------------------------------------------------------+
|Proxy Voting:                                                                |
+------------------------------------------------+----------------------------+
|10. Name of the proxy holder:                   |N/A                         |
+------------------------------------------------+----------------------------+
|11. Number of voting rights proxy holder will   |N/A                         |
|cease to hold:                                  |                            |
+------------------------------------------------+----------------------------+
|12. Date on which proxy holder will cease to    |N/A                         |
|hold voting rights:                             |                            |
+------------------------------------------------+----------------------------+

+--------------------------------+--------------------------------------------+
|13. Additional information:     |N/A                                         |
+--------------------------------+--------------------------------------------+
|14. Contact name:               |Dave Sauvarin                               |
+--------------------------------+--------------------------------------------+
|15. Contact telephone number:   |01481 745529                                |
+--------------------------------+--------------------------------------------+

Annex Notification Of Major Interests In Shares xvi
+--------------------------------------------------------------------------------+
|A: Identity of the person or legal entity subject to the notification obligation|
+-------------------------------------------+------------------------------------+
|Full name (including legal form for legal  |Rensburg Sheppards investment       |
|entities)                                  |Management Limited                  |
+-------------------------------------------+------------------------------------+
|Contact address (registered office for     |Quayside House                      |
|legal entities)                            |                                    |
|                                           |Canal Wharf                         |
|                                           |                                    |
|                                           |Leeds LS11 5PU                      |
+-------------------------------------------+------------------------------------+
|Phone number                               |0113 236 4171                       |
+-------------------------------------------+------------------------------------+
|Other useful information (at least legal   |Mike Rigby                          |
|representative for legal persons)          |                                    |
|                                           |(Head of Compliance)                |
+-------------------------------------------+------------------------------------+

+--------------------------------------------------------------------------------+
|B: Identity of the notifier, if applicable xvii                                 |
+-------------------------------------------+------------------------------------+
|Full name                                  |Philip Martin Beardwell             |
+-------------------------------------------+------------------------------------+
|Contact address                            |2 Gresham Street                    |
|                                           |                                    |
|                                           |London                              |
|                                           |                                    |
|                                           |EC2V 7QN                            |
+-------------------------------------------+------------------------------------+
|Phone number                               |020 7597 1356                       |
+-------------------------------------------+------------------------------------+
|Other useful information (e.g. functional  |Senior Compliance Officer           |
|relationship with the person or legal      |                                    |
|entity subject to the notification         |                                    |
|obligation)                                |                                    |
+-------------------------------------------+------------------------------------+

+--------------------------------------------------------------------------------+
|C: Additional information                                                       |
+--------------------------------------------------------------------------------+
|This disclosure is made by Rensburg Sheppards Investment Management Limited     |
|based on Nominee holdings in accordance with DTR 5.2.1(F).                      |
+--------------------------------------------------------------------------------+





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