CROMWELL PROPERTY GROUP — Board/Management Information 2008

Apr 16, 2008

ASX/Media Announcement April 17, 2008

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CROMWELL APPOINTS GEOFFREY LEVY AS NON-EXECUTIVE CHAIRMAN

Property and funds manager Cromwell Group (ASX: CMW) is pleased to announce the appointment of former Investec Bank (Australia) Ltd CEO and Executive Chairman Geoffrey Levy AO as the Group’s Non-Executive Chairman, effective from 17 April 2008.

In conjunction with the appointment, current Executive Chairman Paul Weightman will become Chief Executive Officer of the Group and will remain an Executive Director.

Mr Levy brings significant public company executive and directorship experience to the role. He is currently Chairman of Speciality Fashion Group Limited, Deputy Chairman of Investec Bank (Australia) Limited, Director of STW Group Limited and Chairman of MZL Investments Pty Ltd. He is also Deputy Chair of the Australian Sports Anti-Doping Authority.

He has previously held Directorships with Mirvac Group Limited, Rebel Sport Limited, Freedom Group Limited, Hoyts Cinemas Limited and Ten Network Holdings Limited. He has also been Chairman and Director of the Film Finance Corporation Australia and a Director of the Multiple Sclerosis Society of New South Wales.

Mr Weightman said the appointment was an important step for the Group, and significantly enhances the depth of experience of the Group’s Board of Directors.

“Geoff brings an incredible breadth of knowledge across a range of industries and sectors and is the ideal person to guide Cromwell into the future,” he said. “The appointment will also provide me with the opportunity to concentrate on my role as CEO.”

Mr Levy said he was pleased to have the opportunity to take on the role of Chairman of a Group which has demonstrated an ability to deliver consistent returns and strong growth over a number of years.

“Cromwell has a history of impressive performance with strong risk management and I look forward to working with the Board and senior executive team whose focus has always been squarely on the interests of its investors,” he said.

Mr Levy is a Solicitor of the Supreme Court currently admitted in New South Wales. He holds a Bachelor of Commerce and a Bachelor of Laws and is a Fellow of the Financial Services Institute of Australasia and a Fellow of the Australian Institute of Company Directors.

ENDS: Media Enquiries to Paul Weightman on 0411 111 028

Cromwell Corporation Limited ABN 44 001 056 980

Cromwell Property Securities Limited ABN 11 079 147 809 AFSL 238052 as responsible entity for Cromwell Diversified Property Trust ABN 30 074 537 051 ARSN 102 982 598 Level 19, 200 Mary Street, GPO Box 1093, Brisbane QLD 4001 Telephone 07 3225 7777 Facsimile 07 3225 7788 Email cromwell@cromwell.com.au Internet www.cromwell.com.au