RNS Number:2512J
ING UK Real Estate Income Trust Ltd
05 December 2007

ING UK Real Estate Income Trust Limited
5 December 2007

ING UK Real Estate Income Trust Limited sells Belfast asset to strengthen income

ING UK Real Estate Income Trust Limited ("IRET") a Guernsey registered
closed-ended investment company, has exchanged on the sale of the Scottish
Provident Building, Donegall Square West, Belfast for GBP 20.975 million
reflecting a net initial yield of 3.75%.

The property is Grade II Listed and comprises a multi-let building with retail
units at ground/mezzanine levels and office accommodation above. The retail
accommodation represents approximately 78% of the current income.

Completion of the transaction is due on the 19 December 2007.

Commenting, Michael Morris, Fund Manager, said:

"This is our sixth disposal this year and was one of the lower yielding assets
within the portfolio. The upper floors would have required significant capital
expenditure going forward, which we believe would have had a detrimental impact
on an income focused vehicle such as IRET.

"The sale will directly enhance the income position and in addition will enable
us to reduce the overall level of gearing and Weighted Average Cost of Debt. We
intend to use the proceeds from the sale to reduce our non securitised
borrowings through a transfer of existing assets to our securitised debt

For further information:

All enquiries:

The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
Trafalgar Court
Les Banques
St Peter Port

Tel: 01481 745439
Fax: 01481 745085

ING Real Estate Investment Management (UK) Limited
Selina Sasse, 020 7767 5756, selina.sasse@ingrealestate.co.uk
Helen Stott, 020 7767 5648 helen.stott@ingrealestate.co.uk

Financial Dynamics
Dido Laurimore/Stephanie Highett, 020 7831 3113


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