Portfolio Update

TR Property Investment Trust PLC
04 January 2006

TR PROPERTY INVESTMENT TRUST PLC


HENDERSON GLOBAL INVESTORS


4 JANUARY 2006




                        TR PROPERTY INVESTMENT TRUST PLC



                            Listing Rule 15.4.11 (2)




In accordance with paragraph 15.4.11 (2) of the Listing Rules, TR Property
Investment Trust plc announces its ten largest investments as at 31 December
2005. Holdings with a value greater than 5% of gross assets are marked *.


Company
Land Securities*
British Land*
Hammerson*
Slough Estates
Big Yellow Group
Rodamco
Castellum
Liberty International
St Modwen
Metrovacesa







                                    - ENDS -





For further information, please call:



Chris Turner

TR Property Investment Trust plc

Telephone: [phone]



Marcus Phayre-Mudge

TR Property Investment Trust plc

Telephone: [phone]










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