NPT ELECTS NEW INDEPENDENT DIRECTOR TO THE BOARD

The National Property Trust Limited (NPTL), the Manager of The National
Property Trust, today advised that at the Annual Meeting of Unit Holders, Mr
Kerry Hitchcock has been elected as new independent director to the NPTL
board. The resolution to elect Mr Hitchcock was passed by a show of hands.

Mr Hitchcock replaces Mr Ted van Arkel who retires by rotation. This election
follows changes to the NPT Trust Deed in 2008 which now allows for
independent directors to be appointed by Unit Holders rather than by the
Manager. Consequently this change in directors was in accordance with that
Deed of Modification.

Mr Hitchcock is an experienced property development and investment specialist
having been involved in various aspects of the property sector since 1983. He
is currently a shareholder and director of Charta Limited, a company
specialising in design/build projects. Mr Hitchcock is an Associate of the
Real Estate Institute of NZ (AREINZ) and a member of the Institute of
Directors. He is currently the director of a number of companies including
World Realty Limited.

NPTL Chairman, Mr Podmore says:  "We are looking forward to having the
services of Mr Hitchcock as a director. Kerry has a wealth of commercial
property experience which will further enhance the strength of the NPTL
board. I would also like to take this opportunity to thank Mr van Arkel for
the valuable services he provided during his four years on the board."

ENDS
For further information please contact:

Kevin Podmore   Tel:    021 273 2723 Mobile
Chairman
The National Property Trust Limited
Or
John Crone      Tel:    04 903 4809 DDI
General Manager Tel:    021 273 2735 Mobile
The National Property Trust Limited

BACKGROUND

The National Property Trust (NPT) is an NZX-listed property vehicle with more
than $268 million of commercial, retail and industrial properties in its
portfolio.  NPT owns properties in Auckland, Napier, Tauranga, Wellington and
Christchurch.  Its assets are managed by The National Property Trust Limited,
a wholly owned subsidiary of property-related finance and funds management
company St Laurence Limited. The St Laurence group of companies manages total
assets of more than $1.15 billion for over 18,000 investors.