Half Yearly Report – National Storage Mechanism

AXA PROPERTY TRUST LIMITED

        (anauthorised closed-ended investment company incorporated in
                   Guernsey with registration number 43007)

                               ("the Company")

                                13 March 2015

            HALF YEAR REPORT AND CONSOLIDATED FINANCIAL STATMENTS

Notice is hereby given that a copy of the Half Year Report and
Consolidated Financial Statements for the six months ended 31 December 2014has
been posted to investors and a copy uploaded to the National Storage Mechanism.

In accordance with Listing Rule 9.6.3, a copy will shortly be
available for inspection at: www.morningstar.co.uk/uk/NSM.

Enquiries:

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

Tel: [phone]