Factsheet

RNS Number:3358M
Invista European Real Estate Trust
23 January 2008

Invista European Real Estate Trust SICAF

Quarterly Factsheet - 30th September 2007
www.ieret.eu

Key Highlights:

  * Adjusted NAV growth of 10.1% since IPO on 20 December 2006. Including
    dividends, total return since IPO is 11.8%
  * Property portfolio valued at Euro736m up 0.8% over the quarter
  * Strong income characteristics with net initial of 6.13% on valuation and a
    running yield of 6.61%
  * Strong tenant credit rating of Low - Medium Risk (Experian).
  * Portfolio diversified by sector and geography to capture growth

Investment Objective:

To provide shareholders with an attractive level of income return together with
the potential for income and capital growth through investing in diversified
commercial real estate in Continental Europe.

Key Statistics

NAV per share 09/07*                                                      Euro 3.11
Share Price 30/9/07                                                       199.75
Gross Property Value 09/07**                                            Euro 736.3m
Net debt 09/07                                                          Euro 359.0m
Gearing 09/07***                                                           59.0%
Dividend dates                                                      May/November
Cash 09/07                                                                Euro 68.6

*     Adjusted to exclude deferred tax liabilities
**    Includes committed assets
*** Gross debt divided by portfolio value

Company Performance Overview:

Net Asset Value - Invista European Real Estate Trust listed on the main market
of the London Stock Exchange on 20 December 2006 at an issue price of 200p.
Adjusted NAV has grown 10.1% since IPO (proforma NAV of Euro2.82). The total NAV
return, including dividends, from IPO to 30 September 2007 was 11.8%.

Property Portfolio - The value of the property portfolio as at 30 September 2007
was Euro724.3m and consisted of 46 properties. The Company is committed to
acquiring one further property valued at Euro12m. The Company purchased three
logistics properties during the quarter totalling Euro40.5m, two of which are
located in The Netherlands and the third in Prague, Czech Republic. The
Company's portfolio on a like-for-like basis, increased in value over the
quarter by 0.8%.

Portfolio Fundamentals - The property portfolio including committed assets is
well diversified by both country and sector and benefits from good quality,
relatively long income characteristics ("Low - Medium Risk" Experian/Dun &
Bradstreet credit rating and 7yrs weighted average lease length to expiry).
These portfolio characteristics are fully consistent with the objective of the
fund to provide an attractive level of income return with the potential for
capital growth.  In addition, there are a number of asset management initiatives
currently being pursued to optimise returns which, together with the benefits of
lease indexation, positions the portfolio well for future value growth.

Portfolio Structure

Sector

Logistics                                                                53%
Offices                                                                  33%
Retail                                                                   14%

Valuation as at 30 September 2007, including committed assets

Geographic

Czech                                                                     2%
Netherlands                                                               3%
Belgium                                                                   3%
Spain                                                                     5%
Germany                                                                  34%
France                                                                   52%
Poland                                                                    1%

Valuation as at 30 September 2007, including committed assets

10 Largest Holdings*                                                     %**
Campus Heusenstamm, 54-64 Jahnstrasse, Heusenstamm, Germany            11.6%
Riesapark 2, 01587 Riesa, Germany                                       7.6%
Le Delta, 95800 Cergy, France                                           5.1%
Vor der Hecke, 34355 Lutterberg, Germany                                4.5%
21 Chemin de la Sauvegarde, 69130 Ecully, Lyon, France                  4.3%
Plot 14A&B, Avenida Rio Henares, Alovera, Guadalajara,                  3.6%
19208 Madrid, Spain
ZAC des Escampades I, 84170, Monteux, France                            3.1%
Fos-Distriport Logistics Park, 13270 Fos sur Mer, 13270                 2.9%
Marseille, France
13 Avenue Albert Einstein, 69100 Villeurbanne, Lyon, France             2.9%
Sun, 180 Avenue de l'Europe, 38330 Montbonnot St Martin,                2.8%
Grenoble, France

Total as at September 2007                                             48.4%

*Includes committed assets
** Percentage of aggregate asset value plus cash (including committed assets)

10 Largest tenants*                                                      %**
Norbert Dentressangle                                                  14.3%
Deutsche Telekom                                                        9.9%
DHL                                                                     6.4%
Tech Data Espana                                                        3.1%
Valeo                                                                     3%
Merial SAS                                                              2.7%
Sun Microsystems                                                        2.7%
Carrefour                                                               2.5%
AVA Marktkauf                                                           2.1%
Real                                                                    2.2%
Copal Logistics                                                           2%

Total as at September 2007                                             48.7%

* Includes committed assets
**Percentage of aggregate gross rent (including committed assets

Asset Management Highlights:

Acquisitions

The Company completed the purchase of three logistics properties located in Tiel
and Amsterdam in The Netherlands and Prague, in the Czech Republic totalling
Euro40.5m. The Company committed to purchase these properties in December 2005 (at
pre-agreed yields) and closed the transactions following completion of certain
conditions relating to construction, occupation and receipt of rent from
tenants. The properties are let to multi national logistics companies Christian
Salvesen, DHL and Bax Global and are complementary to the existing logistics
assets in the portfolio. The Company purchased a portfolio of five office
properties in Brussels, Belgium on 19 December 2007, valued at acquisition at
Euro33.1 million. The portfolio provides the opportunity to benefit from upside in
leasing vacant accommodation in two of the properties whose purchase was
underwritten off a low rental level.

Committed Assets

The Company is committed to purchase a logistics property in Girona, Spain for
Euro12m.

Pipeline

Invista Real Estate Investment Management, the investment manager, has access to
strong deal flow of c. Euro3bn per month in Continental Europe and continues to
review a number of potential transactions for the Company. Such transactions are
analysed to enable the company to capture growth through accessing different
markets, regions, sectors or market cycles. Invista Real Estate Investment
Management continues to focus on the main Western European markets - and will
trade in and out of market cycles to capture value where appropriate.

Active Asset Management

Against the background of a challenging capital markets environment the
implementation of an active asset management strategy remains central to
delivering NAV performance. Yield driven capital growth has contributed to
double digit returns in the sector in the last 18-24 months, however fundamental
decisions concerning stock selection and identifying growth markets, regions of
countries or sectors that are forecast to outperform will become an increasingly
important component of property returns. Invista Real Estate Investment
Management has always been focused on such property level characteristics and
identifying growth opportunities that can be generated through active
management. These intiatives, such as lease re-gears, identifying assets
appropriate for sale, investigating use of surplus land etc are now beginning to
generate benefits across the portfolio which have positively contributed to
returns. Further details of such asset management initiatives will be reported,
subject to confidentiality arrangements, once formal agreements have been
reached with tenants/occupiers.

Contacts

Brokers:

JP Morgan Cazenove
20 Moorgate
London EC2R 6DA
Tel:  [phone]
Richard Cotton (Managing Director, Corporate Finance)
Angus Gordon Lennox (Managing Director, Corporate Finance) for more details,
please visit www.ifpt.co.uk

Citigroup
Citigroup Centre
Canada Square
Canary Wharf
London, E14 5LB, UK
Tel: [phone] Tim Harvey Samuel (Managing Director), Alex Carter
(Director), Tel: [phone]






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