ABACUS GROUP — Capital/Financing Update 2012

May 27, 2012

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ASX ANNOUNCEMENT

Abacus sells Lennons Plaza, Brisbane for $57 million

Abacus Property Group has exchanged contracts for the sale of its integrated hotel/office/retail property, Lennons Plaza, in Brisbane’s Queens Street Mall for $56.75 million. Settlement is scheduled to occur in July 2012.

The property was acquired in December 2003 for approximately $30 million and has provided the Group with strong and stable cashflows. The asset was most recently valued at approximately $55 million in December 2011. The sale will deliver an asset level IRR of circa 17%, above Abacus’ investment return benchmark, and is a pleasing result for the Group during this challenging real estate environment.

Funds from settlement will provide additional liquidity to Abacus’ balance sheet for further acquisition opportunities and validates Abacus’ core plus strategy.

28 May 2012

Ellis Varejes Company Secretary

Neil Summerfield Head of Investor Relations (02) 9253 8600

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