Office Lettings

TR Property Investment Trust PLC
15 May 2006


TR PROPERTY INVESTMENT TRUST PLC


15 May 2006


TR PROPERTY INVESTMENT TRUST PLC


Update on office lettings at The Colonnades, Bayswater and Thames Central,
Slough


TR Property Investment Trust Plc has completed 3 new lettings and agreed terms
for a fourth.  In total, 1,840 sq metres (19,800 sq ft) has been let or is under
offer.  Following the expiry of rent free periods the four deals will generate
rent of £380,000 per annum.


At the Colonnades, Bayswater, the Trust has let 680 sq metres (7,300 sq ft) of
first floor office space to Sanastro Plc, a publishing and business information
group, at a rent of £171,000 per annum (£23.50 psf) subject to a rent free
period of 9 months.  The lease is for a term of 10 years with a tenant option to
break at the end of the 5th year.


The space let to Sanastro was converted from surplus storage space in 2004.  The
space had previously been leased to Budgens Plc, who occupy the supermarket on
the ground floor.


At Thames Central, Slough, two lettings totalling 770 sq metres (8,300 sq ft)
have been completed with Mycom (UK) Limited and Guidance Software Inc. Terms
have also been agreed to let a further 390 sq metres (4,200 sq ft) to a
substantial technology company.  Following the expiry of rent free periods
ranging from 6 to 9 months, the lettings will add £209,000 per annum in rent
(average £16.70 psf).  On completion of this letting, the building will be 38%
let, up from 17.8% in January.


Chris Turner, Fund Manager, commented,


'The first 4 months of the year have seen a gradual improvement in the office
lettings markets in Central London and the Thames Valley.  Whilst vacancy rates
outside the core West End area remain high, demand for quality space has
increased and landlords have been able to reduce the level of incentives offered
to prospective tenants.


We are delighted with the letting at The Colonnades and with the progress we are
making at Thames Central, which we bought entirely vacant less than a year ago.
We are in discussions with a number of other potential occupiers and look
forward to reporting further lettings over the coming months.'


                                    - ENDS -


For further information, please call:


Chris Turner

TR Property Investment Trust PLC

Telephone: [phone]


James Wilkinson

TR Property Investment Trust PLC

Telephone: [phone]


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