Purchase of Own Securities

TR Property Investment Trust PLC
18 March 2002

TR PROPERTY INVESTMENT TRUST PLC

HENDERSON GLOBAL INVESTORS

18 MARCH 2002



                        TR PROPERTY INVESTMENT TRUST PLC


                   Market Purchase of Company's Own Warrants



Notification is given that a purchase by the Company of 3,750,000 warrants was
made today at a price of 15.75p per warrant. Following this re-purchase, the
aggregate number of warrants that have been purchased by the Company to date is
34,213,500 or 36.48% of the number of warrants that were in issue at 27 January
2000 when Board approval was given for the Company to be able to re-purchase its
own warrants.


Subsequent to the re-purchase and cancellation there will be 58,698,441 warrants
in issue.


                                    - ENDS -



For further information please contact:

C M Turner

Fund Manager, TR Property Investment Trust PLC

Telephone: [phone]

Stephen Westwood

Henderson Global Investors

Telephone: [phone]

Vicki Staveacre

Corporate Affairs, Henderson Global Investors

Telephone: [phone]



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