Holding(s) in Company

Axa Property Trust Ltd
23 May 2005


Axa Property Trust Limited

Axa Property Trust Limited is aware of the following interests in its share
capital as at 23 May 2005, which amount to three per cent or more of its issued
ordinary share capital:

Sun Life Unit Assurance Property Fund         14,950,000 shares     14.95%
Sun Life Pensions Management Property Fund    14,950,000 shares     14.95%
UBS AG                                        16,571,050 shares     16.57%


Enquiries: Guernsey International Fund Managers Limited
Company Secretary
01481 745338





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