Acquisition of Property

Insight Foundation Property Tst Ltd
19 July 2004


Insight Foundation Property Trust Limited ('IFPT')

Acquisition of initial property portfolio

Insight Foundation Property Trust Limited (the 'Company') announces that on 16
July 2004 it completed the purchase of 51 of the properties comprised in the
Initial Property Portfolio for the agreed consideration of £193,888,523.16,
adjusted for accruals of rental income and charges, as described in the
prospectus issued by the Company dated 24 June 2004. It is expected that the
remaining property will be acquired during the week commencing 19 July 2004 for
approximately £98,000,000.

Enquiries:

Duncan Owen (Insight Investment Management)           0207 321 1676

Paul Smith (RBSI)                                     01481 743 005

END


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