CHARTER HALL GROUP — Capital/Financing Update 2010

Feb 14, 2010

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ASX ANNOUNCEMENT

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

CHARTER HALL SUCCESSFULLY COMPLETES INSTITUTIONAL EQUITY RAISING

Monday, 15 February 2010

Charter Hall Group (Charter Hall) is pleased to announce the successful completion of the institutional component of its $220 million Equity Raising (the Offer). The institutional component of the Offer will, on settlement, raise approximately $145 million under the Institutional Entitlement Offer at $0.65 per New Security and $25 million at $0.70 per New Security under the Institutional Placement. Settlement of the Institutional Entitlement Offer and Institutional Placement is scheduled to occur on 26 February 2010, with trading in those securities to commence the next business day.

The Institutional Entitlement Offer at $0.65 per New Security was strongly supported by securityholders and the Institutional Placement at $0.70 per New Security was heavily oversubscribed.

Mr Kerry Roxburgh, Chairman of Charter Hall Group said, “We are delighted with the very strong support the institutional offer has received from our existing institutional securityholders and thank them for their continued confidence in the Group.”

Non-renounceable, fully underwritten Retail Entitlement Offer

Eligible Retail Securityholders will have the opportunity to participate at the same Offer Price and offer ratio as under the Institutional Entitlement Offer of 2 CHC securities for every 5 securities held at close of trade on 16 February 2010.

The fully underwritten retail component of the 2 for 5 entitlement offer at $0.65 per New Security (Retail Entitlement Offer) opens on Thursday, 18 February 2010 and is expected to close at 5.00pm (AEDT) on Friday, 5 March 2010. The Record Date for determining Entitlements for the Entitlement Offer is 7.00pm (AEDT) Tuesday, 16 February 2010. Charter Hall securities will trade ex-rights on Monday 15 February 2010.

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The Retail Entitlement Offer is expected to proceed in accordance with the timetable set out in the ASX announcement in relation to the Acquisition and the Offer dated 12 February 2010.[1] An Offer Booklet providing detail on the Retail Entitlement Offer is expected to be mailed to Eligible Retail Securityholders on 18 February 2010. Eligible Retail Securityholders wishing to apply for all or part of their Entitlement or for Additional New Securities in excess of their Entitlement will need to pay via BPAY[®] or complete and submit with payment the Entitlement and Acceptance Form which will accompany the Offer Booklet. Please note that to be allotted New Securities by 1 March 2010, Eligible Retail Securityholders must pay via BPAY[®] by the Early Retail Close Date of 5.00pm (AEDT) on 25 February 2010. Details on how to apply are available in the Offer Booklet and in the Entitlement and Acceptance Form accompanying the Offer Booklet and can also be accessed via the Charter Hall Website www.charterhall.com.au.

New Securities issued pursuant to the Retail Entitlement Offer will be fully paid and rank equally with existing Charter Hall Stapled Securities on issue.

Securityholder enquiries

For further information regarding the Retail Entitlement Offer, please call the Charter Hall Entitlement Offer Information Line on 1300 664 498 (from within Australia) or +61 2 8280 7787 (from outside Australia) between 8.00am and 7.30pm (AEDT) Monday to Friday during the Retail Entitlement Offer period or visit our website at www.charterhall.com.au.

ENDS

1 Dates and times are indicative only and subject to change. Charter Hall reserves the right, subject to the Corporations Act 2001 (Cth), ASX Listing Rules and other applicable laws, to vary the dates of the Entitlement Offer, including extending the Entitlement Offer or accepting late applications, either generally or in particular cases, without notice. Accordingly, applicants are encouraged to submit their Entitlement and Acceptance Forms as soon as possible after the Entitlement Offer opens. No cooling-off rights apply to the Entitlement Offer.

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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 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 13 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.

Charter Hall Limited

ABN 57 113 531 150 Charter Hall Funds Management Limited ABN 31 082 991 786 Sydney Melbourne 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 www.charterhall.com.au

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.