Statement re Fuel Explosion

ISIS Property Trust 2 Limited
12 December 2005


ISIS PROPERTY TRUST 2 LIMITED
12 December 2005

The Board of ISIS Property Trust 2 Limited confirms that the property owned by
the Company at Hemel Gateway, Boundary Way, Hemel Hempstead, has been severely
damaged as a result of a fuel explosion in the neighbouring Buncefield fuel
terminal. The Board confirms that the property is fully insured and does not
expect there to be any material capital or income loss to the Company. A full
investigation is underway and further information will be announced as
appropriate.

For further information please contact:

Ian McBryde
F&C Asset Management plc
Tel: [phone]

Graeme Caton
G&N Collective Funds Services Ltd
Tel: [phone]

Northern Trust International Fund Administration Services (Guernsey) Limited
Company Secretary


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