CHARTER HALL GROUP — Capital/Financing Update 2008

Aug 28, 2008

ASX ANNOUNCEMENT

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CHARTER HALL DIVERSIFIED PROPERTY FUND

Friday, 29 August 2008

Charter Hall today updated Unit Holders in the unlisted Diversified Property Fund (“DPF”), that the Limited Liquidity Facility (LLF) on offer from the Charter Hall Property Trust (“CHPT”), which was established in May 2007, has now reached the maximum buy back of $7.5 million.

DPF Unit Holders have been advised that the Fund remains open to equity in-flows and Charter Hall continues to manage the portfolio within the Fund’s stated investment strategy.

The Fund was established as an unlisted property trust in mid 2005 with the objective of providing a diversified exposure to office, retail and industrial property assets throughout Australia for retail investors. The Fund has performed exceptionally well since its inception and has provided an attractive total return including strong distributions and capital growth (gross IRR of 25.5% pa). The Fund recently ranked as the top performing diversified property fund in Australia in the Morningstar performance tables. The portfolio comprises 14 assets, is currently under-rented relative to market rents and retains 100% tenancy occupancy with a weighted average lease duration of 7.6 years.

The Fund is an illiquid investment scheme and invests 100% of its assets in direct property assets without an allocation to listed A-REITs. This strategy has resulted in strong returns relative to the A-REIT sector over the last 3 years. In accordance with the Fund’s PDS, liquidity is now provided to Unit Holders via Withdrawal Offers funded out of the liquid assets of the Fund.

ENDS

For more information contact Charter Hall Group:

David Harrison David Southon Jo Stiles Joint Managing Director Joint Managing Director Marketing & Communications Manager +61 2 8908 4033 +61 2 8908 4025 +61 2 8908 4026 davidh@charterhall.com.au davids@charterhall.com.au jos@charterhall.com.au

ASX ANNOUNCEMENT

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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 Melbourne, Brisbane, Perth, Adelaide 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 of $3.9 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. www.charterhall.com.au

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