AIMS PROPERTY SECURITIES FUND — M&A Activity 2009

Jul 2, 2009

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3 July 2009

ASX Code : MPS SGX Code: MacCookPSF

MacarthurCook Property Securities Fund (the “Fund”)

Unitholders in MacarthurCook Property Securities Fund may have seen recent press articles and ASX announcements concerning an offer by AIMS Securities Holdings Pty Limited ("AIMS") to acquire all of the shares in MacarthurCook Limited. MacarthurCook Limited is the parent company of MacarthurCook Fund Management Limited (MCKFM), the Responsible Entity of the Fund.

Attached is a copy of the latest announcement advising that the MacarthurCook Limited directors have unanimously recommended that shareholders accept the latest AIMS offer. The offer closes on 17 July 2009.

MCKFM wishes to assure unitholders that the AIMS offer does not represent an offer to acquire units in the Fund nor does it directly impact the current operation of the Fund.

For further information, contact:

Mr Simon Grant

Chief Executive Officer - Australia and America MacarthurCook Fund Management Limited Ph: +61 3 9660 4555

About MacarthurCook:

MacarthurCook Limited (MCK) is an Australian Securities Exchange (ASX) listed company with offices in Australia and Singapore, specialising in the investment management of direct property, real estate securities and mortgage assets.

MacarthurCook manages over A$1.1 billion on behalf of over 21,000 investors as at 31 May 2009. MacarthurCook is a quality endorsed company (ISO 9001:2008 international standard accreditation), and is the investment manager for MacarthurCook Industrial REIT, MacarthurCook Industrial Property Fund, MacarthurCook Office Property Trust, MacarthurCook Mortgage Fund, Advance Mortgage Fund, MacarthurCook Property Securities Fund, Advance Property Securities Fund and the RMR Asia Pacific Real Estate Fund.

The MacarthurCook Property Securities Fund is listed on the ASX and the Singapore Exchange. The MacarthurCook Industrial Property Fund is listed on the ASX. The MacarthurCook Industrial REIT is listed on the Singapore Exchange. The RMR Asia Pacific Real Estate Fund is listed on the American Stock Exchange.

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2 July 2009

ASX Code : MCK

MacarthurCook Board to recommend increased offer from AIMS

The Board of MacarthurCook and AIMS Securities Holdings Pty Limited ("AIMS") are pleased to announce that they have reached agreement in relation to the AIMS bid for MacarthurCook. AIMS has increased its offer by a further 8 cents to $0.43 per share, and in the absence of a higher offer, the Board of MacarthurCook intends to unanimously recommend this increased bid.

Richard Haddock, the Chairman of MacarthurCook, added, “We are pleased that AIMS has recognised the increased value in MacarthurCook, and welcome its desire to continue to build MacarthurCook into a leading international funds management business.”

George Wang, Chairman of AIMS added, “We are very excited to be working with the MacarthurCook Board and management, and pleased that we can work with the existing MacarthurCook platform and extend it further into Asia, and particularly China.”

Craig Dunstan, Managing Director of MacarthurCook, added, “I am very pleased that AIMS recognises the value in the people and the platform that MacarthurCook has built over the last 7.5 years, and I look forward to the growth of the MacarthurCook business under AIMS' stewardship over the coming years.”

AIMS intends to support the proposed MacarthurCook capital raising, which it will subunderwrite up to $5 million. This will enable MacarthurCook to stabilise its balance sheet.

AIMS is very excited to work with existing management and intends to retain both the Melbourne and Singapore offices and the existing team.

MacarthurCook will prepare a supplemental Target's Statement which will contain further details of the reasons for the Board's change of recommendation. AIMS will prepare a supplemental Bidder's Statement which will contain further details of AIMS’ intentions and strategies.

The Board recommends that shareholders make no decision in relation to their shareholding until they receive the supplemental Bidder's and Target's Statements, which will be sent to Shareholders at the same time. Shareholders should also seek independent advice prior to deciding whether to accept or reject the revised AIMS offer.

If you have any questions, please contact the MacarthurCook Shareholder Information Line on 1300 655 197 (if in Australia) or +61 3 9660 4555 (if outside Australia).

For further information, contact:

Mr Richard Haddock Chairman MacarthurCook Limited Ph: +61 3 9660 4555

About MacarthurCook:

MacarthurCook Limited (MCK) is an Australian Securities Exchange (ASX) listed company with offices in Australia and Singapore, specialising in the investment management of direct property, real estate securities and mortgage assets.

MacarthurCook manages over A$1.1 billion on behalf of over 21,000 investors as at 31 May 2009. MacarthurCook is a quality endorsed company (ISO 9001:2008 international standard accreditation), and is the investment manager for MacarthurCook Industrial REIT, MacarthurCook Industrial Property Fund, MacarthurCook Office Property Trust, MacarthurCook Mortgage Fund, Advance Mortgage Fund, MacarthurCook Property Securities Fund, Advance Property Securities Fund and the RMR Asia Pacific Real Estate Fund.

The MacarthurCook Property Securities Fund is listed on the ASX and the Singapore Exchange. The MacarthurCook Industrial Property Fund is listed on the ASX. The MacarthurCook Industrial REIT is listed on the Singapore Exchange. The RMR Asia Pacific Real Estate Fund is listed on the American Stock Exchange.