Holding(s) in Company

ISIS Property Trust 2 Limited
01 May 2008



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                          |   x    |
+---------------------------------------------------------------------+-------+
|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  |       Deutsche Bank AG       |
|from 3.)(iv):                                 | Abbey Life Assurance Company |
|                                              |             Ltd              |
|                                              | Tilney Investment Management |
+----------------------------------------------+------------------------------+
|5. Date of the transaction (and date on which |          22/04/2008          |
|the threshold is crossed or reached if        |                              |
|different)(v):                                |                              |
+----------------------------------------------+------------------------------+
|6. Date on which issuer notified:             |          23/04/2008          |
+----------------------------------------------+------------------------------+
|7. Threshold(s) that is/are crossed or        |Aggregate Direct and Indirect%|
|reached:                                      |                              |
|                                              |Aggregate Direct and Indirect |
|                                              |           7 - 11%            |
+----------------------------------------------+------------------------------+
|8. Notified details:                          |                              |
+----------------------------------------------+----------------------+-------+
+----------------------------------------------+----------------------+-------+







+---------------------------------------------------------------------------------+
|A: Voting rights attached to shares                                              |
+------------+---------------------+----------------------------------------------+
|Class/type  |Situation previous to|Resulting situation after the triggering      |
|of shares   |the Triggering       |transaction(vii)                              |
|            |transaction (vi)     |                                              |
|if possible +----------+----------+----------+-------------------+---------------+
|using the   |Number of |Number of |Number of |Number of voting   |% of voting    |
|ISIN CODE   |Shares    |Voting    |shares    |rights ix          |rights         |
|            |          |Rights    +----------+---------+---------+------+--------+
|            |          |viii      |Direct    |Direct x |Indirect |Direct|Indirect|
|            |          |          |          |         |xi       |      |        |
+------------+----------+----------+----------+---------+---------+------+--------+
|GB00B012T521|12,913,764|12,913,764|13,279,588|5,660,344|7,619,244|5.12% | 6.90%  |
+------------+----------+----------+----------+---------+---------+------+--------+

+----------------------------------------------------------------------------------+
|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                      |
+--------------------------------------+----------------------------------------+
|              13,279,588              |                 12.02%                 |
+--------------------------------------+----------------------------------------+








+----------------------------------------------------------------------------------+
|9. Chain of controlled undertakings through which the voting rights and/or the    |
|financial instruments are effectively held, if applicable xv:                     |
+----------------------------------------------------------------------------------+
|Abbey Life Assurance Company Ltd - 5,.000,000 voting rights or 4.53%              |
|                                                                                  |
|Tilney Investment Management - 7,619,244 voting rights or 6.90%                   |
+----------------------------------------------------------------------------------+

+-----------------------------------------------------------------------------+
|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:               |David Lindsay/Andrew Anderson               |
+--------------------------------+--------------------------------------------+
|15. Contact telephone number:   |+00 44 207 545 8533/8532                    |
+--------------------------------+--------------------------------------------+




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