APA GROUP — Capital/Financing Update 2008

Jul 8, 2008

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MEDIA RELEASE

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9 July 2008

• 9 July 2008

The Manager

Company Announcements Office Australian Securities Exchange 4[th] Floor, 20 Bridge Street Sydney NSW 2000

Electronic Lodgement

Dear Sir or Madam

Company Announcement

I attach the following announcement for release to the market:

• Distribution Reinvestment Plan (DRP) Issue Price

Yours sincerely

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Sandra Dureau

Company Secretary

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MEDIA RELEASE

9 July 2008

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Distribution Reinvestment Plan (DRP) Issue Price

APA Group (APA) today announced that the DRP issue price with respect to the final distribution for the six month period ended 30 June 2008 is $2.65.

The issue price is based on the volume weighted average market price of APA securities traded on the ASX over a period of 10 days, being the five business days up to and including, and the five business days following, the relevant record date (30 June 2008) and includes a 2.5% discount.

The new securities will be issued on the distribution payment date, which will be on or about 10 September 2008, and will rank equally with existing securities.

The amount of the final distribution, and its tax deferred status, will be determined following finalisation of the 2008 financial results, which are due for release on 26 August 2008.

For further information please contact:

Chris Kotsaris, Investor Relations APA Group Telephone: (02) 9693 0049 or Mob: 0402 060 508 Email: chris.kotsaris@pipelinetrust.com.au

About APA Group (APA)

APA Group, comprised of Australian Pipeline Trust and APT Investment Trust, is the major ASX-listed energy transmission company in Australia with interests in almost 12,000 kms of natural gas pipeline infrastructure, over 2,300 kms of gas distribution networks in south east Queensland, Coal Seam Gas processing plants, gas fired power stations, gas storage facilities and two high voltage direct current interconnector systems.

APA manages and operates all its assets and also provides management and operation services to gas distribution and transmission company Envestra (which owns 19,100 km of natural gas distribution networks and 1,029 km of natural gas transmission pipelines). It also holds an 18 percent stake in Envestra and a one-third interest in the SEAGas pipeline. APA Group has a varied and quality customer base including AGL Energy, Cooper Eromanga Basin Producers, Xstrata, Newmont, CS Energy, BHP Billiton, Zinifex, Incitec Pivot, Origin, RioTinto, Nickel West, Synergy and Verve Energy.

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