ABACUS GROUP — Capital/Financing Update 2015

Dec 9, 2015

==> picture [589 x 77] intentionally omitted <==

==> picture [589 x 78] intentionally omitted <==

ASX ANNOUNCEMENT

---

Abacus establishes joint venture with CDL

---

Abacus Property Group (Abacus) [ASX:ABP] is pleased to announce the creation of a residential development joint venture with City Developments Limited (CDL) [SGX:CIT], one of Singapore’s largest residential developers.

The joint venture, which includes local Brisbane developer KPG Capital, formerly Kilcor Property Group, will commit to develop a residential development in Merivale Street, South Brisbane QLD. The site occupies a prime location in South Brisbane and is within walking distance of the CBD, cultural centres, South Bank and West End’s retail precincts. The project consists of two striking 30 storey residential towers accommodating 472 one, two and three bedroom apartments overlooking the Brisbane River and CBD. The two tower configuration, towers IVY and EVE, allows for a two stage development.

The project has development approval and has achieved strong presales. Early works have commenced with construction anticipated to begin early 2016. Final completion is estimated for 2018.

Abacus and CDL will jointly provide the majority of equity funding via a preferred equity interest of approximately $30 million each.

10 December 2015

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

About Abacus

Abacus Property Group is a diversified property group that specialises in investing in core plus property opportunities across Australia's commercial property markets. Abacus was established in 1996 and listed on the ASX in November 2002. Abacus has achieved a successful track record of acquiring property based assets and actively managing those assets to enhance income and capital growth. Abacus has a market capitalisation of over $1.6bn.

==> picture [586 x 49] intentionally omitted <==