CHARTER HALL GROUP — Capital/Financing Update 2010

Mar 9, 2010

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ASX ANNOUNCEMENT

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES OR TO US PERSONS

Equity raising update

Wednesday, 10 March 2010

Charter Hall Group Offer – Final Allotment

Charter Hall Group ("Charter Hall") is pleased to announce the completion of the Retail Entitlement Offer, which closed on 5 March 2010.

The Retail Entitlement Offer raised approximately $50 million, representing approximately $31 million from retail investor participation (a retail participation rate of 62%) and $19 million by the Gandel Group (“Gandel”) as sub-underwriters of the Retail Entitlement Offer. This is in addition to the Institutional Entitlement Offer and Placement which raised approximately $171 million.

The shortfall in the number of securities applied for by retail securityholders under the Retail Entitlement Offer was 28,510,207 securities. Under the sub-underwriting arrangement with Gandel, the entire retail shortfall plus 31,865 securities in respect of ineligible foreign retail securityholders, will be issued to Gandel.

Gandel’s interest in Charter Hall, following the take up of its full pro rata entitlement in the Institutional Entitlement Offer, priority allocation in the Placement and sub-underwriting of the Retail Entitlement Offer will be 16.1%.

Retail securityholders who submitted their applications by 5.00pm (AEST) on 5 March 2010 will be allocated securities up to their full application (including applications made in excess of their Entitlements) under the Retail Entitlement Offer. Allotment of securities under the Final Retail Entitlement Offer is expected to occur on 16 March 2010 and trading in those securities on ASX is expected to commence on 17 March 2010. Link Market Services is expected to despatch holding statements (confirming allotment) to securityholders on 17 March 2010.

ENDS

David Harrison	David Southon	Jo Stiles
Joint Managing Director	Joint Managing Director	Marketing & Communications Manager
0412 259 751	0418 479 155	0414 499 199
davidh@charterhall.com.au	davids@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 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, which will now own and/or manage over $10 billion in real estate assets. The Charter Hall Group has achieved a solid track record across its activities demonstrating a 19 year history of managing wholesale and retail 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

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across property sectors and risk-return profiles.

IMPORTANT INFORMATION

This announcement does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in the United States or to any "U.S. person" (as defined in Regulation S under the U.S. Securities Act of 1933 (the "Securities Act")) ("US Person"). This document may not be distributed to, or relied upon by, persons in the United States or who are, or are acting for the account or benefit of, US Persons. Securities may not be offered or sold in the United States or to, or for the account or benefit of, US Persons, absent registration under the Securities Act or an exemption from registration. Neither the entitlements nor the new securities offered under the Offer have been, or will be, registered under the Securities Act or the securities laws of any state or other jurisdiction of the United States. In addition, none of Charter Hall Limited, CHFML, Charter Hall Property Trust or Charter Hall Group has been, or will be, registered under the US Investment Company Act of 1940 (the “Investment Company Act”) in reliance on an exception provided by Section 3(c)(7) thereof. Accordingly, the new securities to be offered and sold in the Offer may only be offered or sold in the United States or to, or for the account or benefit of, US Persons in transactions exempt from, or not subject to, the registration requirements of the Securities Act and applicable state securities laws and exempt from the registration requirements of the Investment Company Act.

This announcement may contain certain "forward-looking statements". The words "anticipate", "believe", "expect", "project", "forecast", "estimate", "likely", "intend", "should", "could", "may", "target", "plan" and other similar expressions are intended to identify forward-looking statements. Statements regarding certain plans, strategies and objectives of management and indications of, and guidance on, future earnings and financial position and performance are also forward-looking statements. Due care and attention has been used in the preparation of forecast information. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Charter Hall Group, that may cause actual results to differ materially from those expressed or implied in such statements. There can be no assurance that actual outcomes will not differ materially from these statements. Recipients are cautioned not to place undue reliance on forward-looking statements. Charter Hall Group assumes no obligation to update such information.