Directorate Change

TR Property Investment Trust PLC
7 June 2002


TR PROPERTY INVESTMENT TRUST PLC

HENDERSON GLOBAL INVESTORS

7 June 2002

                        TR PROPERTY INVESTMENT TRUST PLC


                 Appointment of Two New Non-Executive Directors


TR Property Investment Trust PLC is pleased to announce the appointments to the
Board of Caroline Burton and Jeremy Newsum with effect from 6 June 2002:


    Caroline Burton (52) has spent the majority of her career as an investment
    analyst and manager at Guardian Royal Exchange plc (1973-1999). During this
    period she was appointed MD of GRE Asset Management in 1987 and a main Board
    director of the parent company in 1990, with direct responsibility for an
    international investment management business as well as a property business
    investing in both the UK and Continental Europe. She also acted as a
    non-executive director of The Scottish Metropolitan Property plc and a Board
    member of the London Pension Fund Authority. Current roles include
    memberships of the Treasury's Public Service Productivity Panel, the Service
    Authority for NCIS and the National Crime Squad and the development
    committee of St. Hilda's College, Oxford, as well as advisor to 3 local
    authority pension funds.

    Jeremy Newsum (47) is the present Group Chief Executive of Grosvenor Estate
    Holdings, a role he has held since 1989. Prior to joining Grosvenor, he was
    the London partner at Bidwells and, before that, a member of the investment
    team at Savills. Other current roles include directorships of Sonae
    Imobiliaria and Societe Fonciere Lyonnaise, and membership of the
    international advisory board of CapitaLand (Singapore). He is the immediate
    past President of the British Property Federation.



                                    - ENDS -

Enquiries to:

C M Turner

Henderson Global Investors

Tel: [phone]

or

Stephen Westwood

Henderson Global Investors

Tel: [phone]



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