Holding(s) in Company

UK Commercial Property Trust Ltd
22 September 2006



                   NOTIFICATION OF MAJOR INTERESTS IN SHARES



All relevant boxes should be completed in block capital letters.


1. Name of listed company                  2. Name of shareholder with a major
                                           interest

UK COMMERCIAL PROPERTY TRUST LIMITED       PHOENIX & LONDON ASSURANCE LIMITED


3. Please state whether notification       4. Name of the registered holder(s)
indicates that it is regarding the         and, if more than one holder, the
holding of the shareholder named in 2      number of shares held by each of them
above; in respect of a non- beneficial
interest; or in the case of an
individual holder if it is a holding of
that person's spouse or children under
the age of 18

AS 2 ABOVE


5. Number of    6. Percentage of issued      7. Number    8. Percentage of issued
shares/amount   class (any treasury shares   of shares/   class (any treasury shares
of stock        held by the listed company   amount of    held by the listed company
acquired        should not be taken into     stock        should not be taken into
                account when calculating     disposed     account when calculating
                percentage)                               percentage)
 
31,000,000      5.8%


9. Class of security                  10. Date of        11. Date listed company
                                      transaction            informed
Ordinary shares                       22 SEPTERMBER 2006     22 SEPTEMBER 2006
                                       

12. Total holding following this         13. Total percentage holding of issued
notification                             class following this notification (any
                                         treasury shares held by the listed
                                         company should not be taken into
                                         account when calculating percentage)
 
31,000,000                               5.8%


14. Any additional information           15. Name of contact and telephone
                                         number for queries
                                         Northern Trust International Fund
                                         Administration
                                         Services (Guernsey) Limited, Secretary
                                         01481 745338


16. Name and signature of duly authorised officer of the listed company
responsible for making this notification

A E Morvan
For Northern Trust International Fund Administration Services (Guernsey)
Limited, Secretary

_________________________________________________________________

Date of notification _____ 22 SEPTEMBER______ 2006____________




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