Quarterly Factsheet

Insight Foundation Property Tst Ltd
29 August 2006

Insight Foundation Property Trust Limited

QUARTERLY FACTSHEET - AUGUST 2006




NAV                                      127.8 pence (30 June 2006)
Total Shares Issued                      353,560,000
Mid share price                          133.5 pence (23 August 2006)
Gross Property Value                     £602.07 million (30 June 2006)
Number of properties                     75 (23 August 2006)
Average lot size                         £8.13 million (23 August 2006)
Average lease length                     8.4 years (23 August 2006)
Ex dividend dates                        2 November 2006
Next financial year end                  31 March 2007
Current Debt                             £190 million
Arranger                                 NM Rothschild
Gearing                                  30% loan to value (see below)
Currency                                 GBP
Registered Office                        Guernsey



Investment objective

To provide investors with an attractive level of income together with potential
for income and capital growth from investing in UK commercial property.



IFPT performance overview

As at 30 June 2006 and prior to the dividend payment, the Company's Net Asset
Value ('NAV') increased to 127.8 pence per share. This reflects an uplift of 8.2
pence per share, or 6.9% over the three months to June, reflecting the strongest
quarterly uplift since the company's launch. Over the 12 months to June the NAV
increased 21.4 pence per share or 20.1%. Combined with the dividend,
shareholders received a twelve month total NAV return of approximately 27%.



As at 30 June 2006 the Company had property assets valued at £602.07 million, an
uplift over the quarter of £29 million or 5%. The Company's London office
properties continue to perform strongly. The Company's stake in Plantation
Place, London EC3 increased in value to £31.6 million, an uplift of £11.1
million or 54%.  MidCity Place, London WC1 generated an uplift of £3.3 million
over the quarter, reflecting an uplift of 19%.  Following the recent acquisition
of Tokenhouse Yard in the City of London and letting of the vacant floors, the
property value as at June 2006 was £23 million relative to the purchase price of
£20.8 million. Since the quarter end the Company completed the acquisition of a
stake in the West End office building, Portman Square House, London W1 resulting
in total property assets, as at 23 August, of £631.2 million.



The UK IPD property index has independently assessed the un-geared performance
of the property portfolio. Over the 3 months to June 2006 the total return was
6.5% relative to the benchmark of 4.9%. Over the 12 months to June 2006 the
total return was 24.5% relative to its peer group benchmark of 19.9%.



Portfolio Activity

The equity raised in 2005 has now been successfully invested in the London
office markets ahead of plan. Considerable asset management activity is in
progress and a number of select acquisitions and disposals are being considered.



The portfolio structure incorporates valuation data as at 30 June 2006, but also
including the recent acquisition of Portman Square House.




Retail                                                                18.8%
Office                                                                55.5%
Industrial                                                            21.5%
Other                                                                  4.2%

Central London                                                        34.1%
South East excl. CL                                                   30.8%
Rest of South                                                          8.0%
Midlands and Wales                                                    15.6%
North and Scotland                                                    11.5%



Property market performance

The UK IPD Monthly Index produced a total return of 5.1% for the quarter to
June. The difference of rental growth between the sectors over the six months to
June continued to grow. This ranged from West End offices at 5.3% to the
industrial sector at 0.6%. The rest of the office sector lagged Central London
in rental growth. This trend was also reflected in total returns over the same
six month period with West End and City offices producing 15.6% and 11.5%
respectively, relative to commercial property market as a whole of 9.6%. The
Trust has maintained a balanced and diversified profile with 75 assets spread
across the country in the retail, office and industrial sectors.



Asset management highlights

Acquisitions

On the 3 July the Company acquired a 21.6% stake in Portman Square House W1 for
£27.55 million. This has subsequently been valued at £29.16 million, reflecting
a yield of 4.5% assuming an average rental value of £60 per sq ft, offering
significant rental growth prospects. Further new investment of up to £50 million
is planned in 2006. The strategy will focus on buying good fundamentals with
asset management opportunities, and Special Situation investments such as the
recent industrial estate acquisition in Crendon.



Disposals

Contracts have exchanged to sell the Company's retail and office property in
Epsom. The price of £3.5 million reflects a net initial yield of 4.5% and
follows rent review settlements ahead of plan. The price compares to the March
valuation of £3.3 million and the acquisition price in July 2004 of £2 million.
The Company is marketing its office on Tudor Street, London WC1 for disposal.



Financing

Portfolio

In addition to the securitised loan facility of £152.5 million, the Company now
has £26.5 million drawn against a short term facility with N M Rothschild and a
separate loan of £14.58 million secured against Portman Square House. This
results in total on-balance sheet borrowings of £190 million or a loan to value
of 30%, increasing to 46% if the off-balance sheet borrowings at Plantation
Place, MidCity Place and Crendon are included.



Plantation Place

The debt facility used to fund the acquisition of Plantation Place EC3 has been
successfully re-financed through a securitisation. The Company owns 28% of the
property and now benefits from a loan at a low total interest cost of 5.19%.



Active Management

Coventry Road, Hinckley

Detailed negotiations in relation to the planning application for 100,000 sq ft
of retail warehouse space and 50,000 sq ft of warehouse space continue. A
pre-letting of a retail warehouse unit of 40,000 sq ft is agreed. A planning
decision is likely to be received by the end of October. The end value of the
scheme is estimated at £30 million, relative to the current valuation of £9
million.


Largest Ten Holdings                                 Value            %*
National Magazine House, 10/20, Carnaby Street,      £51,000,000      8.1%

Soho, London W1
Minerva House, 5&6, Montague Close, London SE1       £49,000,000      7.8%
Plantation Place, Fenchurch Street, London EC3       £31,623,420      5.0%
Portman Square House, London W1                      £29,160,000      4.6%
6, 7, 8, Tokenhouse Yard, London EC2                 £23,000,000      3.6%
Victory House,Trafalgar Place, Brighton              £19,500,000      3.1%
Reynard Business Park, Brentford                     £19,000,000      3.0%
20/22 Tudor Street, London WC2                       £18,750,000      3.0%
Olympic Office Centre, Fulton Road, Wembley          £16,800,000      2.7%
The Albion Centre, Bath Street, Ilkeston             £15,500,000      2.5%
Total as at June 2006**                              £273,333,420     43.3%



* Percentage of Gross Asset Value

** Includes Portman Square House acquired post June 2006


Largest Ten Tenants                                        Rent                  %*
The National Magazine Company Limited                      £2,270,000            7.05%
Australia & New Zealand Banking Group Ltd                  £1,460,000            4.54%
Mott MacDonald Ltd                                         £1,307,148            4.06%
Reed Smith Services                                        £1,295,374            4.02%
Freshfields Services Company                               £1,279,600            3.98%
The British Broadcasting Corporation                       £830,750              2.58%
Grand Metropolitan Estates Ltd                             £795,975              2.47%
Recticel SA                                                £713,538              2.22%
Total Fitness UK Limited                                   £678,540              2.11%
Cushman & Wakefield                                        £574,128              1.78%
Total rent per annum as at June 2006**                     £11,205,053           24.8%



* Percentage of portfolio rent

** Includes Portman Square House acquired post June 2006



Contacts rent per annum as at June 2006 £11,205,053 24.8%

Broker

JP Morgan Cazenove

20 Moorgate

London, EC2R 6DA

Tel: [phone]

Richard Cotton (Managing Director, Corporate Finance)

Angus Gordon Lennox (Managing Director, Corporate Finance)



Fund Administration

RBSI Fund Services (Guernsey) Limited

PO Box 482

Royal Bank Place

Glategny Esplanade

St Peter Port

Guernsey, GY1 6BH

Tel: [phone]

Paul Smith (Managing Director, RBSI Guernsey)



Investment Manager

Insight Investment Management (Global) Limited

33 Old Broad Street

London, EC2N 1HZ

Tel: [phone]

Duncan Owen (Managing Director, Property)



The Company's website is www.ifpt.co.uk

Total as at June 2006 £273,333,420 43.3%

Insight Investment Management (Global) Limited. Registered office 33 Old Broad
Street, London EC2N 1HZ. Registered in England and Wales. Registered number
827982. Authorised and regulated by the Financial Services Authority. Issued in
accordance with Section 21 of the Financial Services and Markets Act 2000 by
Insight Investment Management (Global) Limited. The price of shares and the
income from them may go down as well as up and investors may not get back the
full amount invested on disposal of the shares. Investments in property are
relatively illiquid and more difficult to realise than equities or bonds. Yields
may vary, and are not guaranteed. The use of gearing is likely to lead to a
volatility in the Net Asset Value (NAV), meaning that a relatively small
movement either down or up in value of the trust's total assets, will result in
a magnified movement in the same direction, of that NAV. There is no guarantee
that the market price of shares in Investment Trusts will fully reflect their
underlying NAV. This Investment Trust should be considered only as part of a
balanced portfolio, of which it should not form a disproportionate part. Under
no circumstances should this newsletter be considered as an offer, or
solicitation, to deal in the shares of the company. All figures correct as at 30
June 2006. Past performance is not a guide to future performance.










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