BLACKWALL LIMITED — Capital/Financing Update 2013

Sep 29, 2013

30 September 2013

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**ASX

Release**

**Profit Guidance to June

2014**

BlackWall’s businesses generate revenue from the commercial, retail and industrial property it controls. This revenue is derived from:

• Recurring fund and property management fees;

• Transactional and performance fees; and

• Capital and income returns from investment activities.

The Directors anticipate that the Company will generate an after tax profit for the year ending 30 June 2014 of between $3.5 and $4 million, including $0.7 million mark to market adjustment for the Company’s investment in P-­‐REIT. Further movement in the value of P-­‐ REIT units will affect the final number.

This compares with the Company’s 2013 after tax profit of $2.3 million, including $1.2 million mark to market adjustment for the Company’s investments.

For more information, contact Stuart Brown (Chief Executive Officer) or Tim Brown (Chief Financial Officer) on +61 2 9033 8611.

BLACKWALL PROPERTY FUNDS LIMITED (ASX Code: BWF) ABN 37 146 935 131 Level 1, 50 Yeo Street, Neutral Bay, Sydney NSW 2089 Australia | PO Box 612, Neutral Bay, Sydney NSW 2089 Australia | Tel +61 2 9033 8611 | Fax +61 2 9033 8600 | www.blackwallfunds.com.au