Purchase of Own Securities

TR Property Investment Trust PLC
31 May 2002



TR PROPERTY INVESTMENT TRUST PLC

HENDERSON GLOBAL INVESTORS

31 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 (in
three tranches: one of 500,000 and two of 250,000) was made today at a price of
24.75p per warrant. Following this re-purchase, the aggregate number of warrants
that have been purchased by the Company to date is 65,759,838 or 70.12% 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 27,152,103 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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