BWP GROUP — Regulatory Filings 2009

Jun 8, 2009

ARSN 088 581 097

8 June 2009

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Market Rent Review Results

The Directors of Bunnings Property Management Limited, the responsible entity for the Bunnings Warehouse Property Trust, today announce the results of market rent reviews of three Bunnings Warehouses.

The rent reviews were due in accordance with the lease terms, which call for market rent reviews to occur every five years from the lease commencement date. The results of each market rent review are as follows:

Property locationPassingrent($’000)Determined/negotiatedrent ($’000)Uplift($’000)Uplift( %)Effectivedate	Property locationPassingrent($’000)Determined/negotiatedrent ($’000)Uplift($’000)Uplift( %)Effectivedate
Bayswater, VICJoondalup, WATuggeranong, ACT*Total/ weighted average	1,5011,50100.021 April 091,0101,20019018.824 Sep 081,2591,39013110.431 Dec 083,7704,0913218.5*

The Bayswater Bunnings Warehouse rent review was negotiated with the tenant, Bunnings Group Limited, while the remaining two rent reviews were determined by independent valuers. The independent valuers were appointed either jointly by the Trust and the tenant or nominated by the President of the Australian Property Institute.

These three market reviews takes the total completed this financial year to 14. The total uplift in annual rent from all the reviews concluded this financial year is $1,711,746 or a weighted average uplift of 10.9 per cent on the passing rental.

There are six Bunnings Warehouse rent reviews currently being reviewed, which will take the total number of market rent reviews this financial year to 20. We expect that most of these remaining reviews will be completed by or shortly after 30 June 2009.

For further information please contact:

Grant Gernhoefer

General Manager, Bunnings Property Management Limited

Telephone: (08) 9327 4318 E-mail: ggernhoefer@bwptrust.com.au Website: http://www.bwptrust.com.au/