Directors' Notification of Dealing in Shares(s)

TR Property Investment Trust PLC
1 August 2000



Schedule 11 - Notification of interests of Directors and Connected Persons

1   Name of company:
TR PROPERTY INVESTMENT TRUST PLC

2   Name of director:
W G COCHRANE

3   Please state whether notification indicates that it is in respect of     
holding of the director named in 2 above or holding of that person's spouse or
children under the age of 18 or in respect of a non- beneficial interest:
2 ABOVE

4   Name of registered holder(s) and, if more than one holder, the number of 
shares held by each of them (if notified):
W G COCHRANE

5   Please state whether notification relates to a person(s) connected with  
the director named in 2 above and identify the connected person(s):


6   Please state the nature of the transaction. For PEP transactions please  
indicate whether general/single co PEP and if discretionary/non discretionary:
EXERCISE OF WARRANTS

7   Number of shares/amount of stock acquired:
5,171

8   Percentage of issued class:
INSIGNIFICANT

9   Number of shares/amount of stock disposed:
-

10  Percentage of issued class:
-

11  Class of security:
ORDINARY 25P SHARES

12  Price per share:
47.5P

13  Date of transaction:
31 JULY 2000

14  Date company informed:
31 JULY 2000

15  Total holding following this notification:
73,374

16  Total percentage holding of issued class following this notification:
0.02%

If a director has been granted options by the company, please complete the
following fields:

17  Date of grant:


18  Period during which or date on which exercisable:


19  Total amount paid (if any) for grant of the option:


20  Description of shares or debentures involved: class, number:


21  Exercise price (if fixed at time of grant) or indication that price is to
be fixed at time of exercise:


22  Total number of shares or debentures over which options held following
this notification:


23  Contact name for queries:
MR N P TAYLOR

24  Contact telephone number:
020 7410 4468

25  Name of company official responsible for making notification:
MR N P TAYLOR, FOR AND ON BEHALF OF HENDERSON SECRETARIAL SERVICES LIMITED
SECRETARY





Additional Information: