BWP GROUP — Director's Dealing 2003

Feb 26, 2003

Appendix 3Y

Rule 3.19A.2

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity	BUNNINGS PROPERTY MANAGEMENT LIMITED, the responsible entity for the BUNNINGS WAREHOUSE PROPERTY TRUST
IABN	26 082 856 424

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	WILLIAM HOWITT CAIRNS
Date of last notice	30 AUGUST 2002

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Direct interest
Nature of indirect inferest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
Date of change	27 February 2003
No. of securities held prior to change	21,855 units
Class	Bunnings Warehouse Property Trust ordinary units
Number acquired	859
Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$1.31 per unit
No. of securities held after change	22,714 units
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	distribution of securities under Íssue reinvestment plan

$whc03-001$

⁺ See chapter 19 for defined terms.

Part 2 – Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract
Nature of interest
Name of registered holder (if issued securities)
Date of change
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change

$+$ See chapter 19 for defined terms.

Appendix 3Y

Rule 3.19A.2

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity	BUNNINGS PROPERTY MANAGEMENT LIMITED, the responsible entity for the BUNNINGS WAREHOUSE PROPERTY TRUST
IABN	26 082 856 424

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	PETER JOHN MANSELL
Date of last notice	26 SEPTEMBER 2002

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Indirect interest
Nature of indirect inferest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest. Date of change	Manfam Pty Ltd as trustee of the Peter John Mansell Personal Superannuation Fund is the registered holder. Peter John Mansell is a director and shareholder of Manfam Pty Ltd and beneficiary of the fund. 27 February 2003
No. of securities held prior to change	53.693 units
Class	Bunnings Warehouse Property Trust ordinary units
Number acquired	2,111
Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$1.31 per unit
No. of securities held after change	55,804 units
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	of securities under distribution Íssue reinvestment plan

⁺ See chapter 19 for defined terms.

whe03-001

Part 2 – Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract
Nature of interest
Name of registered holder (if issued securities)
Date of change
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change

$+$ See chapter 19 for defined terms.

Appendix 3Y

Rule 3.19A.2

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity	BUNNINGS PROPERTY MANAGEMENT LIMITED, the responsible entity for the BUNNINGS WAREHOUSE PROPERTY TRUST
IABN	26 082 856 424

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	ROBERT WILLIAM McCUAIG
Date of last notice	13 FEBRUARY 2003

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Indirect interest
Nature of indirect inferest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest. Date of change	Fallow Holdings Pty Ltd as trustee ٥f R W McCuaig Superannuation Fund is the registered holder. Robert William McCuaig is a director and shareholder of Fallow Holdings Pty Ltd and beneficiary of the fund. 27 February 2003
No. of securities held prior to change	184.714 units
Class	Bunnings Warehouse Property Trust ordinary units
Number acquired	7.262
Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$1.31 per unit
No. of securities held after change	191.976 units
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	distribution οf securities under Íssue reinvestment plan

$whc03-001$

⁺ See chapter 19 for defined terms.

Part 2 – Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract
Nature of interest
Name of registered holder (if issued securities)
Date of change
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation. to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change

$+$ See chapter 19 for defined terms.