BWP GROUP — Director's Dealing 2004

Aug 30, 2004

Rule 3.19A.2

Appendix 3Y

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	25 FEBRUARY 2004

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 interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
Date of change	27 August 2004
No. of securities held prior to change	28,021 units
Class	Bunnings Warehouse Property Trust ordinary units
Number acquired	1,068 units
Number disposed
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$$1.54$ per unit
No. of securities held after change	29,089 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	securities distribution of under SSUe reinvestment plan

⁺ See chapter 19 for defined terms.

ahas-1-003

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.

Rule 3.19A.2

Appendix 3Y

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	25 FEBRUARY 2004

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 interest	Manfam Pty Ltd as trustee of the Peter John
(including registered holder)	Mansell Personal Superannuation Fund is the
Note: Provide details of the circumstances giving rise to the relevant	registered holder. Peter John Mansell is a
interest.	director and shareholder of Manfam Pty Ltd
	and beneficiary of the fund.
Date of change	27 August 2004
No. of securities held prior to change	59,875 units
Class	Bunnings Warehouse Property Trust ordinary
	units
Number acquired	2.282 units
Number disposed
Value/Consideration	\$1.54 per unit
Note: If consideration is non-cash, provide details and estimated valuation
No. of securities held after change	62,157 units
Nature of change	of securities under distribution SSUe
Example: on-market trade, off-market trade, exercise of options, issue of	reinvestment plan
securities under dividend reinvestment plan, participation in buy-back
pjm04-003

⁺ 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.

Rule 3.19A.2

Appendix 3Y

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	16 AUGUST 2004

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
Nature of indirect interest
(including registered holder)
Note: Provide details of the circumstances giving rise to the relevant
interest.
Date of change
No. of securities held prior to change
Class
Number acquired
Number disposed
Value/Consideration
Note: If consideration is non-cash, provide details and estimated
valuation
No. of securities held after change
Nature of change
Example: on-market trade, off-market trade, exercise of options, issue of
securities under dividend reinvestment plan, participation in buy-back

rvsn04-006

⁺ 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	Bunnings Warehouse Distribution Property Trust Reinvestment Plan.
Nature of interest	Fallow Holdings Pty Ltd as trustee of R W McCuaig Superannuation Fund was a participant in the Bunnings Warehouse Property Trust Distribution Reinvestment Plan under which it had a right to receive units in the Trust whenever it was determined distributions could be applied towards the purchase of units under the Plan. Robert William McCuaig is a director and shareholder of Fallow Holdings Pty Ltd and beneficiary of the fund.
Name of registered holder (if issued securities)
Date of change	30 June 2004
No. and class of securities Í0. which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	The number of units which can be issued under the Bunnings Warehouse Property Trust Distribution Reinvestment Plan is a function of the number of units held, the amount of the distribution on those units and the price of the units under the Plan.
Interest acquired
Interest disposed
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change	Fallow Holdings Pty Ltd has ceased to be a participant in the Bunnings Warehouse Property Trust Distribution Reinvestment Plan.

$+$ See chapter 19 for defined terms.