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ABACUS GROUP Capital/Financing Update 2008

Dec 30, 2008

64280_rns_2008-12-30_bd37f3a3-2cc3-45f7-81a9-8171959a9371.pdf

Capital/Financing Update

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31 December 2008

ASX ANNOUNCEMENT

Asset Sale

Abacus Property Group is pleased to announce that it has completed this week the sale of an $85 million portfolio of self-storage assets to the Abacus Storage Fund.

An entitlement offer to raise approximately $40m from existing investors in the Abacus Storage Fund, together with an offer to new investors, will open early in the new year.

Enquiries should be directed to:

Ellis Varejes Company Secretary 61 2 9253 8600