Holding(s) in Company

ING UK Real Estate Income Trust Ltd
30 November 2007



TR-1(i): notification of major interests in shares

1. Identity of the issuer or the underlying      ING UK REAL ESTATE INCOME TRUST
issuer of existing shares to which voting rights LIMITED
are attached(1):                                 --------------------
-------------------------------
2. Reason for the notification (please tick the appropriate box or
boxes)                                                                      -------
--------------------------------------------
An acquisition or disposal of voting rights                              X
--------------------------------------------                             -------
An acquisition or disposal of financial instruments which may result in
the acquisition of shares already issued to which voting rights are      -------
attached
--------------------------------------------
An event changing the breakdown of voting rights
--------------------------------------------                             -------
Other (please specify):___________________________________________
--------------------------------------------                             -------
3. Full name of person(s) subject to the         QVT Financial
notification obligation(1):                      --------------------
-------------------------------
4. Full name of shareholder(s) (if different     QVT Fund LP
from 3.)(1):
                                                 Quintessence Fund L.P.
                                                 Deutsche Bank AG
                 ------------------------------- --------------------
5. Date of the transaction (and date on which    27 November 2007
the threshold is crossed or reached if           --------------------
different)(1):
-------------------------------
6. Date on which issuer notified:                28 November 2007
-------------------------------                  --------------------
7. Threshold(s) that is/are crossed
or reached:                                                                     4%
-------------------------------                                --------------------
8. Notified details:
-------------------------------                              --------------------



A: Voting rights attached to shares
Class/   Situation previous to the Resulting situation after the triggering transaction
type of  Triggering transaction    (1)
shares   (1)
if
possible Number of    Number of    Number of    Number of voting    % of voting
using    Shares       Voting       shares       rights ix           rights
the ISIN              Rights       Direct       Direct Indirect     Direct   Indirect
CODE                  viii                      x      xi
Ordinary
Shares   11,889,983   11,889,983   14,889,983          14,889,983                4.51%

B: Financial Instruments
Resulting situation after the triggering transaction xii
Type of      Expiration Exercise/      Number of voting rights that may % of
financial    date       Conversion     be acquired if the instrument is voting
instrument   xiii       Period/ Date   exercised/ converted.            rights
                        xiv

Total (A+B)
Number of voting rights                      % of voting rights
                                14,889,983                                4.51%




9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable xv:

Proxy Voting:
10. Name of the proxy holder:
11. Number of voting rights proxy holder will cease to hold:
12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:
14. Contact name:                                  Lars Bader
15. Contact telephone number:                      [phone]
Annex Notification Of Major Interests In Shares xvi
A: Identity of the person or legal entity subject to the notification
obligation
Full name (including legal form for legal QVT Financial LP
entities)
Contact address (registered office for    1177 Avenue of the Americas, 9th Floor
legal entities)                           New York, New York 10036 USA
Phone number                              [phone]
Other useful information (at least legal
representative for legal persons)

B: Identity of the notifier, if applicable xvii
Full name
Contact address
Phone number
Other useful information (e.g. functional relationship with the person or
legal entity subject to the notification obligation)

C: Additional information






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