ING updates market on unit purchase plan

Friday, 31 March 2006

ING updates market on unit purchase plan

Further to the institutional placement undertaken in November 2005, ING Property Trust Management Limited (IPTML) advises that Eligible Unitholders in ING Property Trust (ING) will have the opportunity to participate in ING’s growth with the introduction of a Unit Purchase Plan (UPP).

The UPP will enable Eligible Unitholders to subscribe for new units in ING at an issue price of the lower of $1.139 or the average end-of-day market price of units over the 30 days immediately before the date of offer. The maximum investment by an Eligible Unitholder must not exceed $5,000.

Eligible Units issued under the UPP will rank equally with all other Units on issue and will participate equally in all distributions declared after the date of issue.

The record date for the UPP is 18 April 2006, and the terms and conditions, together with an Application Form, will be mailed to Unitholders on 21 April 2006. The UPP will open on 21 April 2006 and close on 19 May 2006.

The UPP may also be withdrawn in certain circumstances, which are detailed in the UPP terms and conditions.

ENDS

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