BWP GROUP — Director's Dealing 2013

Oct 10, 2013

Appendix 3Y Change of Director’s Interest Notice

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 30/09/01 Amended 01/01/11

Name of entity	BWP MANAGEMENT LIMITED, the responsible entity for the BWP TRUST
ABN	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 ANTHONY (TONY) JOHN HOWARTH Date of last notice 1 OCTOBER 2012 (APPENDIX 3X)

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	Indirect Interest
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to therelevant interest.	The registered holder name is:WINTERGLAZE PTY LIMITED <THE HOWARTH SUPER FUNDA/C>Nature of indirect interest:Tony Howarth is a director and beneficiary of the Howarth SuperFund
Date of change	8 October 2013
No. of securities held prior to change	BWP Trust Units
	IndirectWINTERGLAZEPTYLIMITED<THEHOWARTH SUPER FUND A/C>	nil units
Class	BWP Trust fully paid units
Number acquired	20,000 fully paid units
Number disposed	N/A
Value/ConsiderationNote: If consideration is non-cash, provide details andestimated valuation	$2.3253 per fully paid unit

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

No. of securities held after changeNature of changeExample: on-market trade, off-market trade, exercise ofoptions, issue of securities under dividend reinvestment plan,participation in buy-back	BWP Trust UnitsIndirectWINTERGLAZE PTY LIMITED <THE HOWARTHSUPER FUND A/C>20,000 unitsOn-market trade

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

Part 3 –[+] Closed period

Were the interests in the securities or contracts detailedabove traded during a+closed period where prior writtenclearance was required?If so, was prior written clearance provided to allow the tradeto proceed during this period?	No
	N/A
If prior written clearance was provided, on what date was thisprovided?	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011