Net Asset Value(s)

AXA Property Trust Ld
03 August 2005


To: Company Announcements
Date: 03 August 2005
Company: AXA Property Trust Limited

Subject: Net Asset Value


Net Asset Value

The Net Asset Value per share of AXA Property Trust Limited as at 30 June 2005
was 98.54pence.

The Net Asset Value attributable to the Shares is calculated on a capital basis
under International Financial Reporting Standards.


All Enquiries:

The Company Secretary
Guernsey International Fund Managers Limited
Trafalgar Court
Les Banques
St Peter Port
GY1 3QL

Tel: [phone]
Fax: [phone]







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