CHARTER HALL GROUP — Capital/Financing Update 2008

Jul 22, 2008

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23 July 2008

The Manager Company Notices Section Australian Securities Exchange Limited Exchange Centre 20 Bridge Street SYDNEY NSW 2000

Dear Sir

Distribution Reinvestment Plan (“DRP”) Price

Charter Hall Group (ASX code: CHC) advises that the issue price of stapled securities to be allotted under the DRP for the 30 June 2008 distribution is $0.8489 per stapled security.

This price includes the 2% discount to the relevant market price, being the average of the daily volume weighted average price of all normal sales of the stapled security for the 15 days ending the 22 July 2008, as previously notified on 28 May 2008 and 19 June 2008.

The securities will be issued on the distribution payment date which is expected to be 29 August 2008. Securities issued under the DRP will rank equally with existing securities on issue.

As previously advised, Macquarie Capital Advisers Limited has fully underwritten this DRP. There has been a strong natural take-up of 38%, with the shortfall being sub-underwritten by Macquarie Capital Advisers Limited to some of Charter Hall’s long standing institutional securityholders.

Please do not hesitate to contact the undersigned if you require further information.

Yours faithfully

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Nathan Francis

Deputy Chief Financial Officer & Company Secretary

Charter Hall Limited

ABN 57 113 531 150 Charter Hall Funds Management Limited ABN 31 082 991 786 Level 11, 333 George Street SYDNEY NSW 2000 Australia GPO Box 2704 SYDNEY NSW 2001 Telephone: +61 2 8908 4000 Facsimile: +61 2 8908 4040 www.charterhall.com.au