Result of EGM

TR Property Investment Trust PLC
24 July 2007

TR Property Investment Trust plc

Results of Extraordinary General Meeting and Issue of Sigma Shares

24 July 2007



Results of meeting



The Board of TR Property Investment Trust plc (the 'Company') is pleased to
announce that at the Extraordinary General Meeting of the Company held today,
the two resolutions proposed to shareholders as special resolutions were duly
passed on a show of hands.



The full text of the resolutions can be found in the notice of the Extraordinary
General Meeting contained in the shareholder circular dated 20 June 2007, copies
of which are available at the Document Viewing Facility of the Financial
Services Authority.



Results of Placing and elections in respect of the Conversion



Elections to convert Ordinary Shares into Sigma Shares were received in respect
of 61,883,286 Ordinary Shares in aggregate, representing approximately 19.0 per
cent. of the existing issued Ordinary Share capital.  Under the Conversion, each
converting Ordinary Share will convert into two Sigma Shares. Subscriptions for
a further 8,029,175 Sigma Shares have been received under the Placing, which
would generate net proceeds of approximately £10.0 million. All subscriptions
under the Placing and all elections in respect of the Conversion will be
satisfied in full.



Net Asset Values



The Net Asset Value of the Company (calculated on the basis set out in the
prospectus) at the close of business on the Calculation Date was £808.6 million.
  As a result:



•         had the Conversion taken place on the Calculation Date, the Net Asset
Value of the Ordinary Pool on the Calculation Date would have been £655.0
million; and



•         the total Net Asset Value of the Sigma Pool on creation of the Sigma
Shares, assuming completion of the Conversion and Placing, will be £160.7
million (an NAV per Sigma Share of 121.92 pence).



Daily net asset values for the Sigma Pool and for the Ordinary Pool are
determined in accordance with the Association of Investment Companies ('AIC')
method of valuation. The next announcement of the daily net asset values will be
on Thursday 26 July 2007, in respect of the net asset values for the Sigma Pool
and for the Ordinary Pool as at the close of business on Wednesday 25 July 2007.



Sigma Shares



The investment objective of the Sigma Pool will be to maximise Shareholders'
total returns by investing predominantly in shares of property companies with a
market capitalisation of less than £1 billion.  The investment focus will be on
companies with property assets located within the Pan-European geographical
area, although investments are permitted on a global basis.



Application has been made for 131,795,747 Sigma Shares (TIDM: TRYS, ISIN Number
GB00B1YW2J11) to be admitted to the Official List and to trading on the London
Stock Exchange. Dealings in such shares are expected to commence at 8 a.m. on 25
July 2007. Certificates in respect of Sigma Shares are expected to be posted
during the week commencing 30 July 2007.



Following implementation of the Placing and Conversion the Company will have
263,916,714 Ordinary Shares and 131,795,747 Sigma Shares in issue.



Words and expressions used in this announcement have the same meaning as in the
shareholder circular dated 20 June 2007.



For further information please contact:

David Benda/ Jane Lewis
Winterflood Investment Trusts
020 3100 0291/0295


                      This information is provided by RNS
            The company news service from the London Stock Exchange