CHARTER HALL GROUP — Capital/Financing Update 2007

Oct 21, 2007

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CHARTER HALL ACQUIRES MONASH UNIVERSITY OFFICE CAMPUS IN MELBOURNE FOR $63.5 MILLION

Monday, 22 October 2007

Charter Hall, one of Australia’s leading property fund managers and property developers, announces that its Core Plus Office Fund (CPOF) has acquired two Monash University buildings in Parkville, Melbourne for $63.5 million.

The property was purchased on an anticipated fully leased initial yield of 6.1% from the Plenary Group and is currently 70% leased to the Monash University for 25 years. Monash University is a member of the Group of Eight (Eo8) and one of Australia’s most recognised Universities.

Located at 395-405 Royal Parade in Parkville and only 2kms from the CBD, the property occupies a land area of approximately 4,870m[2] , comprising two buildings totalling 13,200m[2] , which have recently been constructed or refurbished. The buildings also provide for 125 car parking bays.

Under the agreement, the vendor will complete the refurbishment works, while Charter Hall will finalise the leasing of the remaining uncommitted areas representing approx 25% of the lettable area.

David Harrison, Charter Hall’s Joint Managing Director said: “The Monash university 25 year lease and rent reviews indexed to inflation with 4.06% per annum minimum increases, further enhances the CPOF average lease term from 9.2 to 9.6 years. This acquisition also builds on the tenancy profile strength within the portfolio which boasts long term leases to Telstra, St George Bank, AMEX and BHP”.

The acquisition further demonstrates our confidence in Melbourne’s emerging rental growth prospects off a remarkably relative low base compared with other capital city markets.

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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This latest acquisition is the second core plus office acquisition for CPOF in Victoria and brings the Fund’s assets to 13 with a total portfolio value of approximately $1.18 billion.

Chris Forbes, CPOF Fund Manager said: “The acquisition also provides scope to enhance returns through the leasing of uncommitted areas and demonstrates the Fund’s ability to deliver on a broad range of investment opportunities”.

The transaction was negotiated by Jason Williams and Julian Polic from Grant Samuel.

ENDS

For more information contact Charter Hall Group:

David Harrison Chris Forbes Jo Stiles Joint Managing Director CPOF Fund Manager Marketing & Communications Manager +61 2 8908 4033 + 61 2 8908 4031 + 61 2 8908 4026 davidh@charterhall.com.au chrisf@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