CHARTER HALL GROUP — Capital/Financing Update 2008

Jan 8, 2008

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CHARTER HALL’S OPPORTUNITY FUND NO.5 (CHOF5) ACQUIRES SUBSTANTIAL COMMERCIAL SITE IN PERTH FOR $31 MILLION

Wednesday, 09 January 2007

Charter Hall Group is pleased to announce that Charter Hall Opportunity Fund No.5 (CHOF5) has secured a large, commercial development site on the edge of the Perth CBD for $31 million. This strategic site was acquired through John Corbett of Knight Frank from Chinoiserie Investments Pty Ltd.

The acquisition is the third for CHOF5 and follows two recent acquisitions in New Zealand. This latest project increases the equity allocated in CHOF5 to approximately $42 million of the $300 million of equity available in this fund.

The site is well situated close to the Perth CBD at 186 – 202 Pier and Nash Streets. The site is zoned for a range of uses including commercial and has a total land area of 10,129m[2] . Existing improvements consist of a substantial warehouse building over the majority of the site. The site is well serviced by public transport with Mclver Train Station only 50 metres away and Perth Central Train Station less than 500 metres. In addition, there is excellent vehicle network access with entries to the Mitchel, Kwinana and Graham Farmer Freeways within approximately 1.5 kilometres of the site.

Michael Winnem, Development Director and CHOF5 Fund Manager said: ”The site will be redeveloped into a campus style, commercial office park with large efficient floor plates and have a total area in excess of 25,000m[2] including ancillary retail and substantial car parking. This type of product will appeal to major corporate and government tenants who are focused on efficiency, productivity, value and environmentally rated accommodation”.

Charter Hall Limited

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

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

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This precinct is currently undergoing significant rejuvenation with a number of new developments under construction or planned for the area which will greatly enhance its appeal to a range of potential tenants. With the high levels of leasing activity and the strong economic conditions, the proposed development is anticipated to attract strong interest from users, particularly due to the lack of availability of quality, commercial office space close to Perth CBD.

Charter Hall’s Joint Managing Director, David Southon said “The Perth office market continues to perform well with current office vacancy of less than 1%, positive employment growth and strong underlying demand for office space. The Perth business community is looking for well positioned and easily accessible office space close to the Perth CBD.”

Just around the corner from the Pier and Nash Streets site, at 130 Stirling Street, Charter Hall is currently developing an 8 level (including car parking), 12,000m², A-grade office building for its Core Plus Office Fund (CPOF). The building has large floor plates ranging from approximately 2,600m² to 3,000m² and with the inclusion of an active chilled beam air conditioning system is designed to achieve a 4.5 star AGBR and 4 star Green Star rating. Leasing is well underway, with completion of this product due in June 2009.

ENDS

For more information contact Charter Hall Group:

David Southon Michael Winnem Jo Stiles Joint Managing Director Development Director and Fund Manager Marketing & Communications Manager + 61 2 8908 4025 + 61 2 8908 4056 + 61 2 8908 4026 davids@charterhall.com.au michaelw@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 $3.5 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

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