Holding(s) in Company

ISIS Property Trust 2 Limited
27 March 2008



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

+--------------------------------------------+--------------------------------+
|1. Identity of the issuer or the underlying |ISIS Property Trust 2 Limited   |
|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):                                            |         |
+--------------------------------------------+----------------------+---------+
|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     |19 March 2008                   |
|which the threshold is crossed or reached if|                                |
|different)(v):                              |                                |
+--------------------------------------------+--------------------------------+
|6. Date on which issuer notified:           |25 March 2008                   |
+--------------------------------------------+--------------------------------+
|7. Threshold(s) that is/are crossed or      |Direct 6%                       |
|reached:                                    |                                |
|                                            |Aggregate Direct and Indirect   |
|                                            |13% & 12%                       |
+--------------------------------------------+------------------------------+-+
|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 of|Number of |Number of |Number of voting   |% of voting rights |
|ISIN CODE   |Shares   |Voting    |shares    |rights ix          |                   |
|            |         |Rights    +----------+---------+---------+---------+---------+
|            |         |viii      |Direct    |Direct x |Indirect |Direct   |Indirect |
|            |         |          |          |         |xi       |         |         |
+------------+---------+----------+----------+---------+---------+---------+---------+
|            |         |          |          |         |         |         |         |
|            |         |          |          |         |         |         |         |
|GB00B012T521|7,177,405|14,375,539|12,913,764|5,693,780|7,219,984|5.15%    |6.54%    |
+------------+---------+----------+----------+---------+---------+---------+---------+

+------------------------------------------------------------------------------+
|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                     |
+-------------------------------------+---------------------------------------+
|                                     |                                       |
|                                     |                                       |
|12,913,764                           |11.69%                                 |
+-------------------------------------+---------------------------------------+








+-----------------------------------------------------------------------------+
|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 - 7,219,984 voting rights or 6.53%              |
+-----------------------------------------------------------------------------+



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



+--------------------------------+--------------------------------------------+
|13. Additional information:     |                                            |
+--------------------------------+--------------------------------------------+
|14. Contact name:               |David Lindsay/Andrew Anderson               |
+--------------------------------+--------------------------------------------+
|15. Contact telephone number:   |+00 44 207 545 8533/8532                    |
+--------------------------------+--------------------------------------------+

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 |                                    |
|entities)                                 |                                    |
+------------------------------------------+------------------------------------+
|Contact address (registered office for    |                                    |
|legal entities)                           |                                    |
+------------------------------------------+------------------------------------+
|Phone number                              |                                    |
+------------------------------------------+------------------------------------+
|Other useful information (at least legal  |                                    |
|representative for legal persons)         |                                    |
+------------------------------------------+------------------------------------+

+-------------------------------------------------------------------------------+
|B: Identity of the notifier, if applicable xvii                                |
+------------------------------------------+------------------------------------+
|Full name                                 |                                    |
+------------------------------------------+------------------------------------+
|Contact address                           |                                    |
+------------------------------------------+------------------------------------+
|Phone number                              |                                    |
+------------------------------------------+------------------------------------+
|Other useful information (e.g. functional |                                    |
|relationship with the person or legal     |                                    |
|entity subject to the notification        |                                    |
|obligation)                               |                                    |
+------------------------------------------+------------------------------------+

+------------------------------------------------------------------------------+
|C: Additional information                                                     |
+------------------------------------------------------------------------------+
|                                                                              |
+------------------------------------------------------------------------------+






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