Holding(s) in Company

ISIS Property Trust 2 Limited
04 May 2007



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

+----------------------------------------------+------------------------------+
|1. Identity of the issuer or the underlying   |  ISIS Property Trust 2 Ltd   |
|issuer of existing shares to which voting     |                              |
|rights are attached(ii):                      |                              |
+----------------------------------------------+----------------------+-------+
|2. Reason for the notification (please tick the appropriate box or   |       |
|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      |       Deutsche Bank AG       |
|notification obligation(iii):                 |                              |
+----------------------------------------------+------------------------------+
|4. Full name of shareholder(s) (if different  |       Tilney Group Ltd       |
|from 3.)(iv):                                 |                              |
+----------------------------------------------+------------------------------+
|5. Date of the transaction (and date on which |         02 May 2007          |
|the threshold is crossed or reached if        |                              |
|different)(v):                                |                              |
+----------------------------------------------+------------------------------+
|6. Date on which issuer notified:             |         03 May 2007          |
+----------------------------------------------+------------------------------+
|7. Threshold(s) that is/are crossed or        |Aggregate Direct & Indirect 5%|
|reached:                                      |                              |
+----------------------------------------------+------------------------------+
|8. Notified details:                          |                              |
+----------------------------------------------+----------------------+-------+
+----------------------------------------------+----------------------+-------+







+--------------------------------------------------------------------------------+
|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  |Number of|Number of |Number of voting    |% of voting     |
|ISIN CODE   |of      |Voting   |shares    |rights ix           |rights          |
|            |Shares  |Rights   +----------+---------+----------+-------+--------+
|            |        |viii     |Direct    |Direct x |Indirect  |Direct |Indirect|
|            |        |         |          |         |xi        |       |        |
+------------+--------+---------+----------+---------+----------+-------+--------+
|GB00B012T521|  N/A   |   N/A   |1,245,438 |1,245,438|4,378,208 | 1.13  |  3.96  |
+------------+--------+---------+----------+---------+----------+-------+--------+

+----------------------------------------------------------------------------------+
|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                      |
+--------------------------------------+----------------------------------------+
|              5,623,646               |                 5.09%                  |
+--------------------------------------+----------------------------------------+








+-----------------------------------------------------------------------------+
|9. Chain of controlled undertakings through which the voting rights and/or   |
|the financial instruments are effectively held, if applicable xv:            |
+-----------------------------------------------------------------------------+
|                                                                             |
+-----------------------------------------------------------------------------+

+-----------------------------------------------------------------------------+
|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:     |Please not that this is the first disclosure|
|                                |made on behalf of Deutsche Bank AG and its  |
|                                |subsidiary companies in relation to holdings|
|                                |in ISIS Property Trust 2 Ltd since the      |
|                                |implementation of the Disclosure and        |
|                                |Transparency Rules in the UK.               |
+--------------------------------+--------------------------------------------+
|14. Contact name:               |Karl Savident                               |
+--------------------------------+--------------------------------------------+
|15. Contact telephone number:   |01481 745322                                |
+--------------------------------+--------------------------------------------+





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