CROMWELL PROPERTY GROUP — Capital/Financing Update 2007

Aug 23, 2007

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ASX/Media Release August 24, 2007

CROMWELL SELLS PERTH OFFICE BUILDING FOR $27.3 MILLION

Property and funds manager Cromwell Group (ASX: CMW) has completed the off-market sale of the RSM Bird Cameron building in Perth to GE Real Estate Investments Australia Pty Ltd for $27.3 million.

This disposal is in line with Cromwell Group’s strategy of selectively disposing of fully priced, non-core assets and recycling capital into core markets with greater long term prospects.

The building, which is located at 8 St Georges Tce, Perth, was purchased in June 2004 for $11.1 million as a foundation asset for the Cromwell Diversified Property Trust (CDPT). The property was independently valued at $21.6 million at 30 June, 2007.

Cromwell Group Executive Chairman Paul Weightman said the value of the asset had increased significantly over the last 12 months in line with increased demand and growth in the Perth office market.

“The Perth market is incredibly strong at the moment but we have determined that now is the right time to realise the growth and invest the funds elsewhere,” he said.

“We will continue to look at opportunities to both acquire and dispose of assets when market conditions provide the opportunity and it presents clear long term value for Securityholders.”

Cromwell expects to book a gain on the sale of approximately $5 million after selling costs in the 2008 financial year. Contracts were exchanged and settlement took place simultaneously on Thursday 23 August, 2007.

The building has a net lettable area of approximately 4,550 sqm and is fully leased to business advisory and chartered accountancy firm RSM Bird Cameron until November 2008.

The Cromwell Diversified Property Trust (CDPT) was merged with single asset trusts last year with the merged entity subsequently stapled to the listed Cromwell Corporation Limited. The CDPT and Cromwell Corporation Limited form a stapled group - the ASX-listed Cromwell Group - which has total assets under management of nearly $1.6 billion.

ENDS: Media Enquiries to Paul Weightman on (07) 3225 7777 or 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