CHARTER HALL GROUP — Capital/Financing Update 2007

Dec 13, 2007

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CHARTER HALL’S CHOF 5 IN EXCLUSIVE POSITION TO PURCHASE NINE NETWORK HEADQUARTERS IN SYDNEY AND WITH JOINT VENTURE PARTNERS IN MELBOURNE

Friday, 14 December 2007

Charter Hall, one of Australia’s leading property fund managers and property developers has been awarded the exclusive right to negotiate the purchase of the Nine Network’s headquarters in both Sydney and Melbourne following a tender process.

The Sydney property is an iconic landmark located in Willoughby on Sydney’s Lower North Shore and will be acquired by Charter Hall’s Opportunity Fund No. 5 (CHOF 5). CHOF 5 is the fifth in a series of highly successful and strongly performing opportunistic property funds managed by the Charter Hall Group.

The Sydney property does not include the transmission tower which is owned by TX Australia and is not part of the sale process.

The Melbourne property, located in Richmond, will be purchased by a dynamic consortium comprising 50% Charter Hall’s CHOF 5 and 50% R.Corporation and Crane Corp.

David Southon, Charter Hall’s Joint Managing Director said: “We are excited to be granted the right to negotiate the acquisition of both properties and proceed with the planning and development, providing each market with highly sought after, quality residential offering in well established suburbs.”

Adding further: “We are partnering in Melbourne with R.Corporation and Crane Corp as they have strong local knowledge, a track record of unlocking the potential of complex sites, an appreciation of sensitive heritage issues and a strong reputation for engaging with local communities.”

Both properties represent outstanding infill residential development opportunities in two of the most highly sought after suburbs of Sydney and Melbourne.

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

Level 11 | 333 George Street | SYDNEY | NSW 2000 GPO Box 2704 | SYDNEY NSW 2001 Ph: +61 2 8908 4000 | Fax: +61 2 8908 4040 www.charterhall.com.au

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The Nine Network is to remain in occupation of both properties for a predetermined period to enable it to finalise suitable alternative premises for relocation.

ENDS

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 $3 billion and a market cap of over $1.3 billion. The Charter Hall Group has achieved a solid track record across its activities demonstrating a 10 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.

For more information about Charter Hall Group, please contact:

David Southon Jo Stiles Joint Managing Director Marketing & Communications Manager +61 2 8908 4025 + 61 2 8908 4026 davids@charterhall.com.au jos@charterhall.com.au

About R.Corporation – www.rcorporation.com.au

R.Corporation are property developers who lead the Melbourne market in design, culture and lifestyle offerings. The company has built more than 20 landmark buildings, boutique residential, retail and office projects at a total cost of more than $600 million in the past few years. R Corporation will draw on the learnings of their

groundbreaking projects including Metropol, Tribeca and Botanicca Corporate Park to create a unique lifestyle offering sympathetic to the cultural and heritage significance of the former Channel 9 site. R.Corporation was awarded the 2006 Property Council Rider Hunt Award, High Rise Residential category and Special Commendation DB RREEF Heritage Property Award at the 2006 Australian Property Institute Awards and UDIA award for urban renewal for the Tribeca project.

About Crane Corp – www.cranecorp.com.au

Crane Corp is a leading market specialist in property development and investment solutions. The core group of experts has amassed significant experience in the fields of development, construction, marketing and property investment. Based and founded in Melbourne this private company has created and invested in an impressive yet diverse portfolio of residential, commercial and retail property nationally.

Charter Hall Limited

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

Level 11 | 333 George Street | SYDNEY NSW 2000 GPO Box 2704 | SYDNEY NSW 2001 Ph: +61 2 8908 4000 | Fax: +61 2 8908 4040 www.charterhall.com.au

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For more information about R.Corporation and Crane Corp please contact:

Suzanne Northey, Jump Property PR, 0414 496 287

About Nine Network

The Nine Network is one of Australia’s top-rating commercial television networks. Its backbone is the three television stations in Sydney, Melbourne and Brisbane, along with the newly acquired regional broadcaster, NBN Television, and agreements with other regional operators.

The Nine Network’s strength and consistency comes from its extensive news and current affairs coverage, rights to broadcast popular sporting events and its slate of entertainment and lifestyle programs.

The Nine Network continues to set benchmarks in news and sports coverage with multi award-winning shows including 60 Minutes, Today, Sunday, A Current Affair and Wide World of Sports .

Originally established in 1956 as Nine Network, it was separately listed on the Australian Stock Exchange as Network Nine Australia Limited from 1990 until 1994.

In 1994 Publishing and Broadcasting Limited was created through the merger of Nine and the then separately listed ACP Magazines.

The Nine Network is now 100% owned by PBL Media, a joint venture between CVC Asia Pacific Limited and Consolidated Media Holdings, which holds the media assets of the recently split Publishing and Broadcasting Limited business.

For more information about Nine Network Australia contact:

Arabella Gibson, Director of Corporate Communications, PBL Media & Nine Network Ph: (02) 9965 2280 E:agibson@pblmedia.com.au

Charter Hall Limited

Level 11 | 333 George Street | SYDNEY NSW 2000

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

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