Company Re-financing

ING UK Real Estate Income Trust Ltd
21 December 2005


ING UK Real Estate Income Trust Limited ('the Company')

In its prospectus dated 4 October 2005, the Company noted its intention to
finalise a £200m securitisation facility to re-finance its existing interim debt
facility.

Completion of the re-financing has now been reached and the transaction was
fully subscribed. The pricing has been set at 25bps.

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

'This has been a successful financing exercise at attractive interest rates for
the Company having fully hedged the loan until 30 January 2013 at an all in
fixed interest rate of 5.04%.

'This securitisation will provide flexible and cost-effective financing as we
work to enhance and grow the value of the Company's portfolio.'


Enquiries:

Rachael Curr, ING Real Estate Investment Management           020 7767 5600
Jon Rickert, JPMorgan                                         020 7325 1000
Stephanie Highett, Financial Dynamics                         020 7831 3113

END




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