Net Asset Value

Insight Foundation Property Tst Ltd
26 July 2006

26 July 2006



           Insight Foundation Property Trust Limited (the 'Company')

                    ANNOUNCEMENT OF NAV AND INTERIM DIVIDEND

Insight Foundation Property Trust Limited is pleased to announce a Net Asset
Value of 127.8 pence per share as at 30 June 2006 and an interim dividend of
1.6875 pence per share in respect of the period 1 April to 30 June 2006.  The
total valuation uplift and the NAV total return represents the strongest quarter
the Company has had since inception and is underpinned by the strong performance
being delivered by the Company's London office portfolio and asset management
success.

The dividend payment will be made on 25 August 2006 to shareholders on the
register on 4 August 2006.  The ex-dividend date will be 2 August 2006.

The Company's NAV of 127.8 pence per share reflects an uplift of 8.2 pence per
share, or 6.9% over the quarter.  The Company's un-geared property total return
of 6.8% compares to the equivalent like for like figure of 5.1% for the IPD
Monthly Index.

The quarterly NAV uplift followed an increase in the capital value of the
properties held over the quarter of £27 million or 5%.

Key highlights for the quarter included:

•   The Company acquired Tokenhouse Yard (EC2) for £20.8 million. Following a 
    recent letting, resulting in the building now being 100% let, the asset 
    has been re-valued at the quarter end at £23 million.

•   A 54% increase in value of the Company's stake in Plantation Place from
    £20.5 million to £31.6 million.

•   Released £8.1 million of equity through a re-finance of the debt on
    MidCity Place, resulting in a total uplift of over the quarter of 
    £3.3 million from £17.6 million to £20.9 million.

Commenting on the announcement, Duncan Owen, Insight Investment Management,
said:

'The growth in NAV this quarter has been underpinned by the strong performance
generated by our London portfolio and asset management success.  At the time of
the C share issue we outlined our belief that the Company's prospects would be
enhanced by increasing its weightings of Central London office assets through
the acquisition of good quality properties, which offered asset management
opportunities.  We are delighted to have achieved this on behalf of
shareholders.  Since the quarter end we have completed the acquisition of a
21.6% stake in Portman Square House, London W1, adding to the diverse spread of
high quality offices in the core central London markets.  We continue to look
for opportunities to enhance value.'

                                     -ENDS-

For further information:

Duncan Owen (Insight Investment Management)
020 7321 1677

Sara Radford (RBSI Fund Services (Guernsey) Limited)
01481 743000

Stephanie Highett / Dido Laurimore (Financial Dynamics)
020 7831 3113


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