Acquisition

ING UK Real Estate Income Trust Ltd
10 July 2006


ING UK REAL ESTATE INCOME TRUST

10 July 2006


ING UK REAL ESTATE INCOME TRUST LTD UTILISES DEBT FACILITY AND MAKES A FURTHER
ACQUISITION


ING UK Real Estate Income Trust Ltd (the 'Company') announces that it has now
fully utilised the additional debt facility contained within the securitisation
structure which was established in December 2005.


The additional GBP25 million of debt has been issued in the form of AAA rated
Reserve Notes and has been fully hedged until 30th January 2013. The total debt
on the portfolio has increased to GBP225 million at an effective all in rate of
5.10%.


Simultaneously, part of the proceeds have been used to increase the Central
London office exposure. The Company has exchanged contracts to purchase Notcutt
House, Southwark Bridge Road, SE1. The purchase price of GBP7 million reflects a
net initial yield of 5.75%. The property comprises 1,175 sq m (12,653 sq ft) of
air conditioned office space refurbished in 2001 which is let at GBP 426,586 per
annum until September 2016 to Conchango UK plc.


Fund Manager Elliot Caldwell comments:

'This additional debt has enabled us to strategically re-align the portfolio
towards Central London and acquire an asset which provides an attractive income
return significantly ahead of our cost of debt. The surplus funds will be used
for added value active management initiatives and future acquisitions.'


For further information, please contact:

Selina Sasse

ING Real Estate Investment Management                   [phone]


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



ING Real Estate is an international real estate company active in investment
management, development and finance. With a total business portfolio of EUR 73
billion and offices in 17 countries in Europe, America, Asia and Australia, ING
Real Estate ranks among the world's strongest real estate companies.


ING Real Estate is part of ING Group, a global financial institution of Dutch
origin offering banking, insurance and asset management to over 60 million
private, corporate and institutional clients in more than 50 countries.




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