CHARTER HALL GROUP — Capital/Financing Update 2007

Nov 5, 2007

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CHARTER HALL EXTENDS OFFICE MARKET ACQUISITIONS WITH $23.9 MILLION NORTH SYDNEY CBD PURCHASE

Tuesday, 6 November 2007

Charter Hall, one of Australia’s leading property fund managers and property developers, announces that its Diversified Property Fund (DPF) has acquired APP House, 53 Berry Street in North Sydney for $23.9 million, which grows the portfolio to 12 assets with a total portfolio value of approximately $162.5 million.

The acquisition, a first for DPF in the North Sydney CBD, provides excellent exposure to the improving North Sydney CBD office market which has a solid outlook for growth and may benefit from a more progressive planning approach from North Sydney Council.

The modern seven level office building is situated on the high profile south-western corner of Berry and Miller Streets and has prominent retail exposure and accessibility. The building comprises a ground level entrance foyer and large retail shop with internal mezzanine area, six upper levels of office space and two basement car parking levels that provides parking for 30 cars.

The property was purchased on an initial fully let yield of 6.29% and is 100% leased to quality tenants including APP Corporation, (a subsidiary of Transfield Services Ltd), Fedex Kinkos and National Credit Insurance (a subsidiary of QBE Insurance).

David Harrison, Charter Hall’s Joint Managing Director said: “The acquisition provides additional tenant and sector diversity for DPF, increasing exposure to the fast improving Sydney office market whilst maintaining a high proportion of the portfolios income generated from national and international tenants.”

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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Cedric Fuchs, Charter Hall’s Executive Director added: “In addition to offering solid investment returns, the property has the added advantage of being a strategic corner site within a core North Sydney CBD location”.

ENDS

For more information contact Charter Hall Group:

David Harrison Cedric Fuchs Jo Stiles Joint Managing Director Executive Director Marketing & Communications Manager +61 2 8908 4033 + 61 2 8908 4030 + 61 2 8908 4026 davidh@charterhall.com.au cedricf@charterhall.com.au jos@charterhall.com.au

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 $1.3 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.

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