Portfolio Update

AXA Property Trust Ld
01 October 2007


To: RNS
From: AXA Property Trust
Date: 30 September

Listing Rule 15

In accordance with paragraph 15.4.11 (ii) of the Listing Rules, AXA Property
Trust Limited announces its ten largest investments, including all investment
with a value greater than 5% of its gross assets, as at 30 September 2007:

    Country      Location                                  Status     % of total
                                                                      assets

1   Germany       Phoenix Centre,, Fuerth                  Completed       13.1%
2   Germany       Bahnhofstrasse, Rothenburg ob der Tauber Completed       12.2%
     
3   Italy         Multiplex, Curno, Bergamo                Completed        8.8%
4   Italy         SS Bergamina, Agnadello                  Completed        7.3%
5   Germany       Am Birkfeld, Dasing                      Completed        5.5%
6   Netherlands   Smakterweg, Venray                       Completed        5.2%
7   Germany       Industriestrasse, Montabaur -            Completed        5.1%
                  Heiligenroth
8   Germany       Bahnhofstrasse, Karben                   Completed        5.1%
9   Germany       Ruednitzer Chausse, Bernau               Completed        4.8%
10  Germany       Nuerberger Strasse, Treuchtlingen        Completed        3.9%

All Enquiries:

The Company Secretary
Northern Trust International fud Administration Services (Guernsey) Limited
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL

Tel: [phone]




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