Purchase of Own Securities

TR Property Investment Trust PLC
2 May 2002


TR PROPERTY INVESTMENT TRUST PLC

HENDERSON GLOBAL INVESTORS

2 MAY 2002


                        TR PROPERTY INVESTMENT TRUST PLC

                   Market Purchase of Company's Own Warrants



Notification is given that a purchase by the Company of 1,000,000 warrants was
made today at a price of 20.75p per warrant. Following this re-purchase, the
aggregate number of warrants that have been purchased by the Company to date is
37,683,500 or 40.18% 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 55,228,441 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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