Results of Placing and Offer

UK Commercial Property Trust Ltd
28 February 2007


RNS Announcement

For immediate release, 28 February 2007

UK COMMERCIAL PROPERTY TRUST LIMITED

UK Commercial Property Trust Limited (the 'Company') announces that it has today
issued 350 million new ordinary shares, being the maximum of 97 million new
ordinary shares to applicants under the placing and offer for subscription and
253 million new ordinary shares to Phoenix Life Limited ('PLL'), all as set out
in the prospectus (the 'Prospectus') published by the Company on 9 February
2007. All applications under the offer for subscription have been satisfied in
full. The new ordinary shares issued to PLL were issued as part of the
consideration for the acquisition of the New Property Portfolio (as defined, and
described in more detail, in the Prospectus) which acquisition is now
unconditional.


It is expected that the new ordinary shares of the Company, being a total of 350
million shares, will be admitted to the Official List of the UK Listing
Authority and to trading on the main market operated by the London Stock
Exchange, and that dealings will begin on the London Stock Exchange, on 1 March
2007.


All enquiries

Graeme Caton
Graham Reaves
Nigel Russell

G&N Collective Funds Services Limited
Tel. [phone]

Douglas Armstrong
Dickson Minto W.S.

Tel. [phone]




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