TR Property Inv. - Net Asset Value(s)

TR PROPERTY INVESTMENT TRUST PLC

24^th February 2012

NET ASSET VALUES

Ordinary Shares

As at close of business on 23^rd February 2012, the unaudited net asset value per Ordinary share including current financial year revenue items was 176.7p (and 175.2p including debt marked at fair value). The unaudited net asset value excluding current financial year revenue items was 173.0p (and 171.5p including debt marked at fair value).

Sigma Shares

As at close of business on 23^rd February 2012, the unaudited net asset value per Sigma share including current financial year revenue items was 91.6p (and 90.9p including debt marked at fair value). The unaudited net asset value excluding current financial year revenue items was 90.3p (and 89.6p including debt marked at fair value).