CHARTER HALL GROUP — Capital/Financing Update 2009

Sep 30, 2009

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ASX ANNOUNCEMENT

1. CHC sells $30 million of CPOF units to existing CPOF investors

2. Gandel Group commits $30 million of new equity to CPOF

Thursday, 1 October 2009

Charter Hall Group (CHC) announces the completion of the sale of $30 million of units in one of its managed funds, Core Plus Office Fund (CPOF). Following the previously announced contract to sell $30 million of CPOF units to the Gandel Group (Gandel) at a 20% discount to the 30 June 2009 CPOF NTA, several existing CPOF investors have exercised their pre-emptive rights to acquire the Offered CPOF units on identical terms to those offered to Gandel. Accordingly, CHC now owns 17% of CPOF units or approximately 121 million units.

The $30 million of cash received by CHC has eliminated headstock debt in line with the pro forma balance sheet position provided as part of the FY09 Results Presentation. A loss on sale associated with this transaction of approximately $9 million will be booked in the financial year ending 30 June 2010 in line with the May 2009 announcement due to the discount to unit price, but will be excluded when determining Underlying Earnings.

CHC also announces that Gandel has committed $30 million of additional equity to CPOF. The Gandel investment provides a strong alignment with existing wholesale investors in CPOF together with their 12.2% investment in CHC.

Charter Hall’s Joint Managing Director, David Harrison said “CPOF has substantially improved its capital position through the additional equity commitments and welcomes the Gandel Group as an investor in the fund”.

ENDS

For further media enquiries or to arrange a media interview, please contact:

David Harrison	David Southon	Jo Stiles
Joint Managing Director	Joint Managing Director	Marketing & Communications Manager
(02) 8908 4033	(02) 8908 4025	0414 499 199
davidh@charterhall.com.au	davids@charterhall.com.au	jos@charterhall.com.au

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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 Charter Hall Group has achieved a solid track record across its activities demonstrating a 14 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 and motivated management team with diverse expertise across property sectors and risk-return profiles.