Result of AGM

ISIS Property Trust 2 Limited
22 November 2007


                                                                22 November 2007


                         ISIS PROPERTY TRUST 2 LIMITED

                        Result of Annual General Meeting



At the Annual General Meeting held on 21 November 2007, the following Ordinary
Resolutions were passed;

Resolution 1

IT WAS RESOLVED that the accounts and the report of the Directors and of the
Auditors for the year ended 30 June 2007 be approved.


Resolution 2

IT WAS FURTHER RESOLVED that Mr A E Gulliford, who retired by rotation, be re
elected as a Director.


Resolution 3

IT WAS FURTHER RESOLVED that Ernst & Young LLP, be re-appointed as Auditors.


Resolution 4

IT WAS FURTHER RESOLVED that the Directors be authorised to determine Auditors'
remuneration.


Furthermore the following Special Resolutions were also passed;


Resolution 5

IT WAS RESOLVED THAT the Company be authorised, in accordance with Section 5 of
The Companies (Purchase of Own Shares) Ordinance 1998 ('The Ordinance') to make
market purchases (within the meaning of Section 18 of the Ordinance) of ordinary
shares of 1p each ('Ordinary Shares') (either for retention as treasury shares
or transfer or cancellation), provided that;

(a) the maximum number of Ordinary Shares hereby authorised to be purchased
shall be 14.99 per cent of the issued Ordinary Shares on the date on which this
resolution is passed;

(b) the minimum price which may be paid for an Ordinary Share shall be 1p;

(c) the maximum price (exclusive of expenses) which may be paid for an Ordinary
Share shall be 105 per cent of the average of the middle market quotations (as
derived from the Daily Official List) for the Ordinary Shares for the five
business days immediately preceding the date of purchase; and

(d) unless previously varied, revoked or renewed, the authority hereby conferred
shall expire on 21 February 2009 or, if earlier, at the conclusion of the Annual
General Meeting of the Company to be held in 2008, save that the Company may,
prior to such expiry, enter into a contract to purchase Ordinary Shares under
such authority and may make a purchase of Ordinary Shares pursuant to any such
contract.


Resolution 6

IT WAS FURTHER RESOLVED THAT the Company be authorised, in accordance with
Section 1 of The Companies (Purchase of Own Shares) (Treasury Shares) Ordinance
2006 to hold any shares purchased by it in accordance with the Companies
(Purchase of Own Shares) Ordinance 1998 and out of distributable profits, as
treasury shares, by way of an amendment to the Company's articles of association
as set out in the proposed articles of association tabled at the Meeting which
will replace the Company's existing articles of association.


Resolution 7

IT WAS FURTHER RESOLVED THAT the limit of the remuneration payable to directors
of the Company be changed from £125,000 to £200,000 by way of an amendment to
the Company's articles of association as set out in the proposed articles of
association tabled at the Meeting which will replace the Company's existing
articles of association.


Resolution 8

IT WAS FURTHER RESOLVED THAT the articles of association of the Company be
amended to reflect the changes requested pursuant to resolution 6 and 7 by
deleting the existing articles of association in their entirety and replacing
them with the articles of association as tabled at the Meeting.


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]



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