CHARTER HALL GROUP — Board/Management Information 2007

Oct 23, 2007

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DIRECTOR RETIRING AND ESCROW RELEASE

Wednesday, 24 October 2007

We wish to advise Mr Andre Biet will be retiring in accordance with the Constitution as a Director of Charter Hall Limited and Charter Hall Funds Management Limited.

Accordingly, Mr Biet has withdrawn his consent to stand for re-election at the Charter Hall Group Annual General Meeting tomorrow. Therefore Resolution 1 “Re-election of Mr Andre Biet”, as shown in the Notice of Meeting sent to Securityholders and lodged with the ASX on 21 September 2007, is withdrawn.

“The CHG Board extends its appreciation to Andre for his significant contribution. He was one of the three founders of Charter Hall Group and served as its Managing Director for 15 years until its listing in June 2005” said Chairman Mr Kerry Roxburgh. “On behalf of all CHG investors, I look forward to recording their appreciation to Andre at the Annual General Meeting”.

As a result the CHG Board has consented to the early release of Mr Biet’s remaining escrowed securities ahead of the expiry being 30 June 2008. Accordingly CHG announce that the following securities held directly and indirectly by Mr. Andre Biet will be released from escrow effective 10 business days from the date of this announcement:

• 636,289 securities held directly by Mr. Biet.

• 2,152,008 securities held indirectly via Mr. Biet’s 40% interest in Doverville Holdings Pty Limited.

ENDS

For more information contact

David Harrison David Southon Joint Managing Director Joint Managing Director Charter Hall Charter Hall 02 8908 4033 02 8908 4025 davidh@charterhall.com.au davids@charterhall.com.au

Charter Hall Limited

Level 11 | 333 George Street | SYDNEY | NSW 2000

ABN 57 113 531 150

GPO Box 2704 | SYDNEY NSW 2001 Ph: +61 2 8908 4000 | Fax: +61 2 8908 4040 www.charterhall.com.au

Charter Hall Funds Management Limited ABN 31 082 991 786 Sydney Brisbane Perth Auckland

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About the Charter Hall Group:

Charter Hall Group is a property funds management and development company, based in Sydney with offices in Brisbane, Perth and Auckland. Established in 1991 and listed on the ASX in 2005 as a stapled security under the code CHC, Charter Hall Group combines Charter Hall Limited with Charter Hall Property Trust. The Group currently has funds under management in excess of $2.8 billion and a market cap of over $1.2 billion. The Charter Hall Group has achieved a solid track record across its activities demonstrating a 16 year history of managing wholesale capital, making it one of Australia’s leading property fund managers. Charter Hall’s success has been underpinned by a highly skilled, incentivised and motivated management team with diverse expertise across property sectors and risk-return profiles.

Level 11 | 333 George Street | SYDNEY NSW 2000

Charter Hall Limited ABN 57 113 531 150 Charter Hall Funds Management Limited ABN 31 082 991 786 Sydney Brisbane Perth Auckland

GPO Box 2704 | SYDNEY NSW 2001 Ph: +61 2 8908 4000 | Fax: +61 2 8908 4040 www.charterhall.com.au