Purchase of Own Securities

TR Property Investment Trust PLC
14 May 2002



TR PROPERTY INVESTMENT TRUST PLC

HENDERSON GLOBAL INVESTORS

14 MAY 2002





                        TR PROPERTY INVESTMENT TRUST PLC


                   Market Purchase of Company's Own Warrants



Notification is given that a purchase by the Company of 21,777,338 warrants (in
two tranches: one of 21,377,338 and one of 400,000) was made today at a price of
23.40p per warrant. Following this re-purchase, the aggregate number of warrants
that have been purchased by the Company to date is 59,460,838 or 63.40% 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 33,451,103 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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