Completion of Sale

17 November 2016

AXA Property Trust Limited

Completion of Sale

The Board of AXA Property Trust Limited is pleased to confirm that the Company, together with its joint venture partner, has completed the sale of the property at Agnadello, Italy. The sales price of €23.2 million (at joint-venture level) reflects a discount of 1.3% below the asset’s independent valuation as at 30 September 2016. Net sales proceeds in respect of the Company’s 50% ownership are approximately €11.46 million after allowing for transaction expenses and associated disposal costs.

The Company will now use a combination of net sales proceeds and existing cash reserves to fully repay its outstanding debt Facility of €11.48 million with Crédit Agricole-CIB prior to the maturity date of 31^st December 2016.

Further updates on the Company’s sales programme will be provided in due course.

All Enquiries:

Investment Manager 
AXA Investment Managers UK Limited
Broker Services
7 Newgate Street
London EC1A 7NX
Tel: [phone]
Email:[e-mail]

Corporate Broker
Stifel Nicolaus Europe Limited
150 Cheapside
London EC2V 6ET
Tel: [phone]

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

Tel: [phone]