ASPEN GROUP — Capital/Financing Update 2012

Jun 26, 2012

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----- Start of picture text ----- Aspen Group LimitedABN 50 004 160 927Aspen Property TrustARSN 104 807 767----- End of picture text -----

Level 8, Septimus Roe Square 256 Adelaide Terrace, Perth Western Australia, 6000 Telephone: 08 9220 8400 Facsimile: 08 9220 8401 Email: homemail@aspengroup.com.au

ASX / MEDIA RELEASE 27 June 2012

DISTRIBUTION UPDATE

Aspen Group advises that the Board of Directors has resolved not to pay a distribution for the quarter ended June 2012.

The decision by the Board was made to enhance the capital position of the Group in light of the likely funding commitment relating to the exercise of a put option in November of this year. This put option relates to the Aspen Development Fund No. 1 Limited as previously disclosed.

The Board believes it is prudent at this time and in the circumstances to maximize the current Group liquidity position and is confident that the current, clearly identified capital management strategies will be sufficient to meet the short term funding requirements of the Group.

The Board is disappointed for securityholders that this quarter’s distribution is not being made however it is committed to prudent capital management and creating a strong balance sheet with ample headroom.

The payment of future distributions is expected to resume for the 2013 financial year once the capital management initiatives are completed.

Aspen has to date paid distributions totaling 3.15 cents per security, in relation to the year ended 30 June 2012.

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For further information please contact:

Gavin Hawkins Managing Director, Aspen Group Phone: (08) 9220 8400 Mobile: 0402 148 279

David Tasker Professional Public Relations Phone: (08) 9388 0944 Mobile: 0433 112 936 Email: david.tasker@ppr.com.au

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About Aspen Group

Aspen Group is an ASX listed property investment and funds management group, focused on acquiring quality property assets and creating and managing innovative property funds and syndicates.

Formed in 2001, Aspen has progressed to now be a member of the S&P/ASX 300 index with assets under management in excess of A$1.3 billion.

Aspen’s core strength lies within the Group’s broad expertise across property acquisition, development and management enabling the Group to provide leading edge property solutions.

Aspen directly owns and manages a well diversified portfolio of commercial property assets Australia-wide. The portfolio is spread across the office, industrial and retail sectors and has grown through acquisitions and portfolio revaluations of existing properties driven by a strong property management focus.

Aspen also has developed an outstanding reputation for creating unique and successful funds management products and related services. These managed funds have provided investment opportunities across a broad spectrum of property sectors including tourist parks, residential land subdivisions, CBD office developments, private hospital developments and retirement and accommodation villages.

Aspen continues to source acquisition opportunities for both balance sheet and syndication purposes in order to achieve further growth in both assets and earnings for security holders.

Website: www.aspengroup.com.au

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