ABACUS GROUP — Capital/Financing Update 2011

Sep 28, 2011

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ASX ANNOUNCEMENT

Abacus Property Group announces new third party capital joint venture

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Abacus Property Group is pleased to announce that it has entered into a joint venture with a private client of AM alpha GmbH, a private investment advisory firm in respect of the commercial office building at 309 George Street, Sydney.

The property will be purchased for $68.75 million which (excluding transaction costs) represents an initial yield of 8.5% pa. This property comprises a 15 storey retail and commercial building with net lettable area of 9,357m[2] . It is located in the prime core precinct of the Sydney CBD and is in the heart of one of Sydney’s busiest retail strips, being adjacent to Wynyard railway station. The property provides prime ground floor retail as well as office accommodation. It is currently fully occupied. Settlement is scheduled for mid-October 2011.

AM alpha GmbH is a Munich-based privately owned real estate investment firm that focuses on investments in prime real estate in Europe and Asia, investing on its own account as well as for a number of private clients. Its Asian operations are headquartered in Singapore with AM alpha (Singapore) Pte. Ltd. established to advise on and source prime real estate investment opportunities in gateway cities in the Asia Pacific region.

A private client of AM alpha will hold 75% of the equity in the joint venture and Abacus will hold the remaining 25%. The project will be jointly managed by AM alpha on behalf of its private client and Abacus.

Ellis Varejes Company Secretary

29 September 2011

Neil Summerfield Head of Investor Relations Abacus Property Group (+61) 2 9253 8600 www.abacusproperty.com.au.

AM alpha (Singapore) Ltd. Pte. (Asian Headquarters) 80 Raffles Place, #14-02/03, UOB Plaza 1 Singapore 048624 Tel: (+65) 6220 1191, Fax: (+65) 6220 8912 - Ms. Audrey Quek, info@am alpha.com.sg