Acquisition

ING UK Real Estate Income Trust Ltd
31 May 2006


ING UK Real Estate Income Trust Limited
31 May 2006

ING UK Real Estate Income Trust Ltd makes first
acquisition buying into Central London market


ING UK Real Estate Income Trust Ltd ('IRET' / 'the Trust'), a Guernsey
registered closed-ended investment company, today announces its first
acquisition since launch in October last year. It has bought into the Central
London office market recovery having exchanged contracts to purchase Boundary
House on Jewry Street, London EC3, within the City of London. The purchase price
of £16.1 million reflects an initial yield of 5.2%.

Boundary House is now the trust's 6th largest asset by value. It comprises over
45,000 square feet of office space and has 8 occupational tenants and an average
rent of only £18 per square foot.

Elliot Caldwell, Fund Manager of ING UK Real Estate Income Trust, said:

'Boundary House is an ideal addition to the portfolio. We have bought into
occupational upswing in the office market and off a relatively low capital value
and base rent. We also have the opportunity to gain added value through
refurbishment and active management.'

Knight Frank advised the trust on the acquisition.


Enquiries:

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

01481 745439


END


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