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ABACUS GROUP Capital/Financing Update 2014

Oct 8, 2014

64280_rns_2014-10-08_dcf6939c-9e5d-4349-8b28-d50ee2278450.pdf

Capital/Financing Update

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ASX ANNOUNCEMENT

Sale of Birkenhead Point Outlet Centre and Marina for $310 million

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Abacus Property Group and the Kirsh Group have exchanged contracts for the sale of Birkenhead Point Outlet Centre and Marina, Sydney NSW for $310 million. Settlement is due to occur in November 2014.

Abacus and the Kirsh Group upgraded and redeveloped the centre and marina following their purchase, making it a high quality combined convenience-based retail shopping centre and fashion outlet centre. The Marina is in its final stages of upgrade to increase the number of births, provide fuel services and allow access for larger vessels. These activities have positioned the property as a highly attractive asset.

Abacus Managing Director, Dr Frank Wolf, said “We are very happy with the tremendous job the Abacus team has done. We have transformed an intricate asset to create a high quality institutional grade property. We acquired the property on the back of strong fundamentals and a clear strategy to enhance the asset. This is a great example of Abacus’ ability and skills to drive value for our securityholders”.

9 October 2014

Ellis Varejes Company Secretary Neil Summerfield Head of Investor Relations