AXA PROPERTY TRUST LIMITED

(a closed-ended company incorporated with limited liability under the laws of Guernsey with registered number 43007)

REDEMPTION ANNOUNCEMENT (AMENDMENT)

Following the restated NAV as at 31 March 2017 issued on 21 June 2017, the redemption announcement released by the Company on 12 June 2017 has also been amended to reflect the restated NAV per share as at 31 March 2017:

1) The Redemption Price per Share will now be 66.67 pence by reference to the restated NAV per share as at 31 March 2017, compared with the previously announced Redemption Price of 70.26 pence.

2) Approximately 26.42% of the Company's issued share capital will now be redeemed, compared with 25.07% previously referred to.

All other information disclosed in the redemption announcement issued on 12 June 2017 remains unchanged, including the total amount, and the equivalent amount per Share, to be returned to Shareholders.