Acquisition

Insight Foundation Property Tst Ltd
17 March 2006


Insight Foundation Property Trust Limited invests £27.55 million in a core 
West End Building.

17 March 2006

Insight Foundation Property Trust Limited ('the Company') announces that it has
exchanged contracts to invest £27.55 million in the joint acquisition of the
long leasehold interest in Portman Square House, 43-45 Portman Square, London
W1, for a total consideration of £127.550 million.  Completion is expected in
July 2006 on receipt of freeholder consent.  The investment reflects an
equivalent yield of approximately 5% assuming current rental values.  The
property will be managed by Insight Investment Management.

Portman Square House is in a core West End location comprising approximately
100,000 sq ft of Grade A office accommodation with large floors, and 10,000 sq
ft of ground floor retail.  The property is let to a total of 8 tenants with a
total current net income of £4.77 million per annum, equating to a low base
office rent of approximately £42 per sq ft (£452 per sq m).  The largest tenant
is the international property consultancy, Cushman Wakefield.  The property is
reversionary with key rent review on the office space in 2008 that should be
well timed to benefit from forecast West End rental growth.

Enquiries: -

Duncan Owen (Insight Investment Management)                        020 7321 1677
Paul Smith / Sara Radford (RBSI Fund Services (Guernsey) Limited)  01481 743000
Stephanie Highett / Dido Laurimore (Financial Dynamics )           020 7831 3113






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