ABACUS GROUP — M&A Activity 2007

Nov 8, 2007

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Update on U Stow It Takeover Bid

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Abacus Property Group has acquired more than 50% of the shares in U Stow It Holdings Limited under its previously announced off-market takeover bid. The bid, which is now unconditional, has been recommended by U Stow It's directors.

As announced by Abacus on 8 October 2007, U Stow It is an unlisted company that owns and operates a number of self-storage assets and other properties in Canberra and Queanbeyan.

The offer period for the takeover bid has been extended until 22 November 2007.

In accordance with Listing Rule 3.2, Abacus advises that:

• (a) the percentage of securities in the bid class in which Abacus and its associates had a relevant interest when the first of the offers under the takeover bid was made was 19.4%; and

• (b) at the date of the extension, the percentage of securities in the bid class in which Abacus and its associates had a relevant interest is 51.54%.

Ellis Varejes Company Secretary 612 9253 8600

9 November 2007