Portfolio Update

ISIS Property Trust 2 Limited
03 January 2007




To:   RNS
From: ISIS Property Trust 2 Limited
Date: 3 January 2007

Listing Rule 15


In accordance with paragraph 15.4.11 (2) of the Listing Rules ISIS Property
Trust 2 Limited announces its top ten property investments, including all
holdings with a value greater than 5% of its total assets, as at 31 December
2006:


Property                                                     % of Total Assets

Unit 3663, Echo Park, Banbury                                              8.7
48-49, St. James's Street, London, SW1                                     7.7
Units 1-8, Lakeside Road, Colnbrook                                        6.5
Mercury House, 1, Dove Wynd, Strathclyde Business Park                     6.3
Southampton International Park, Eastleigh                                  6.2
30/40 , The Parade & 47/59A Warwick Street, Leamington Spa                 5.2
Hemel Gateway, Boundary Way, Hemel Hempstead                               4.6
Clifton Moor Gate, York                                                    4.3
Swift House, Cosford Lane, Rugby                                           3.8
The Clock Tower Brookwood                                                  2.7


All Enquiries:

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

Tel: [phone]




                      This information is provided by RNS
            The company news service from the London Stock Exchange