CHARTER HALL GROUP — Capital/Financing Update 2007

Sep 26, 2007

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CHARTER HALL ACQUIRES PRIME MELBOURNE CBD CORNER PROPERTY FOR $32 MILLION

Thursday, 27 September 2007

Charter Hall Group announced today it has secured a further off-market acquisition for the Core Plus Office Fund (CPOF) in Melbourne CBD for $32 million. The property located at 150 Queen Street on the corner of Bourke Street is the 12[th] asset in CPOF and expands the portfolio to over $1 billion. The building comprises 938m[2] of prime retail space, 7,048m[2] of office space over 11 upper levels and 2 levels of basement parking accommodating 30 cars.

Melbourne’s CBD office investment market is gaining considerable momentum and the acquisition is seen as an excellent opportunity to take advantage of the forecast upswing in the Melbourne office and retail rental market. The strategic location of the property, formerly known as the Prudential building, provides CPOF with multiple value add opportunities and is considered to have considerable positive rental reversion prospects.

Charter Hall’s Joint Managing Director, David Harrison said: “150 Queen Street offers CPOF an ideal ‘Core Plus’ investment as rental reversions and multiple value add options provide the flexibility for Charter Hall’s active investment approach to optimise returns for investors. Further, the large retail component means the purchase price reflects $4,000/m[2] overall and $2,850/m[2] of office lettable area which we consider provides scope for growth.”

This latest CPOF acquisition represents the second purchase from Mr George Chow’s Ruby Group, following the 2006 $69 million purchase of 333 George Street Sydney, now accommodating Charter Hall’s head office.

ENDS

For more information contact Charter Hall Group:

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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David Harrison Chris Forbes Jo Stiles Joint Managing Director Fund Manager Marketing & Communications Manager 02 8908 4033 02 8908 4031 02 98908 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 $1.2 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.

Charter Hall Limited

ABN 57 113 531 150

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

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