Disposal

ING UK Real Estate Income Trust Ltd
09 October 2006



ING UK Real Estate Income Trust Limited

Disposal of Scorpio Inns Public House Portfolio

9 October 2006


ING UK Real Estate Income Trust Limited announces that it has disposed of the
Scorpio Inns Public House Portfolio, to the occupying tenant, Punch Taverns.


The disposal of the portfolio follows the tenant, Punch Taverns, exercising one
of three remaining options, and acquiring a third of the portfolio in September
2006 for GBP 2.99 million. The remaining properties were sold on 6 October 2006.


The proceeds to the Company (including the above option amount) reflect GBP
17.55 million against a valuation at launch of GBP 14.55 million.


Background:-

The Public House portfolio originally comprised 69 public houses, located in
rural, suburban and city centre areas, principally in Wales, Herefordshire and
South West England. It was let to Punch Taverns until October 2016 and the
tenant had the option to acquire one third of the portfolio in 2006, one half in
2011 and the remainder in 2016. The purchase price at each option was at a set
capitalisation rate based on the passing rent at the time of each option.


Enquiries:


The Company Secretary

Northern Trust International Fund Administration Services (Guernsey) Limited

Trafalgar Court

Les Banques

St Peter Port

Guernsey

GY1 3QL


Tel: [phone]

Fax: [phone]


END



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