CROMWELL PROPERTY GROUP — Capital/Financing Update 2008

Dec 16, 2008

ASX Announcement December 17, 2008

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CROMWELL COMPLETES EARLY REPURCHASE OF $129 MILLION CMBS NOTES

Cromwell Group (ASX: CMW) is pleased to advise that they have settled the early repurchase of $A129 million of the $A429 million Cromwell CMBS Notes on issue.

The targeted $A129 million buyback consisted of the repurchase of A$35.6 million Class A notes, $A29.4 million Class B Notes, $A26.6 million Class C Notes, A$26.8 million Class D Notes and $A10.6 million Class E Notes. The repurchase was settled at a discount to the Notes’ face value.

The buyback was managed by Westpac Institutional Bank.

The repurchase was able to be facilitated as a result of the Group obtaining a new 3 year syndicated loan facility for $452 million, which has now been fully drawn. In addition to the $129 million utilised to repay CMBS Notes, Cromwell holds $300 million cash on deposit to fund repayment of the remaining A$300 million in Notes across the 5 classes. Those remaining Notes are repayable on 21 April 2009.

ENDS:

Enquiries: Paul Weightman, David Gippel Chief Executive Officer Group Treasurer 0411 111 028 0408 788 629

Issued by Cromwell Corporation Limited (ABN 44 001 056 980) and Cromwell Property Securities Limited (ABN 11 079 147 809, AFSL 238052) (“CPSL”) as responsible entity for Cromwell Diversified Property Trust (ABN 30 074 537 051, ARSN 102 982 598). This communication has been prepared without taking into account your objectives, financial situation or needs. Therefore, in deciding whether to acquire or continue to hold an investment in Cromwell Group you should consider, with or without your financial advisor, whether the investment fits your objectives, financial situation or needs. Forecasts are not a guarantee of future performance and actual returns could differ materially from those expressed.

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