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ING Property Trust Unit Purchase Plan

21 April 2006

NZX Announcement

ING Property Trust Unit Purchase Plan

On 31 March 2006 ING Property Trust announced that it would introduce a Unit Purchase Plan for unitholders. The Unit Purchase Plan enables all Eligible Unitholders to subscribe for units having an aggregate subscription amount of $5,000 per unitholder.

In compliance with the terms of the Securities Act (NZX – Share and Unit Purchase Plans) Exemption Notice 2005, the subscription price for units to be issued under the Unit Purchase Plan has been set at $1.139 per unit. This is the same effective price as under the institutional placement undertaken in November 2005. Documentation in relation to the Unit Purchase Plan has today been sent to Eligible Unitholders.

The board of directors of ING Property Trust Management Limited hereby certifies that, at the time when the subscription price was fixed, ING Property Trust Management Limited had no information not publicly available that would, or would be likely to, have a material effect on the market price of units in the Trust if the information were publicly available. Signed by all the directors of the Manager:

Peter Clynton Brook Hon. Philip Ralph Burdon Director Director Andrew Hardwick Evans David Malcolm McClatchy Director Director Trevor Donald Scott Philip Michael Smith Director Director For further information please contact: Andrew Evans Managing Director ING Property Trust Management Limited

ENDS


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