CROMWELL PROPERTY GROUP — Capital/Financing Update 2008

Nov 12, 2008

ASX Announcement November 13, 2008

==> picture [114 x 39] intentionally omitted <==

CROMWELL MOVES ON NEW DEBT FACILITY

Cromwell Group (ASX: CMW) has drawn down its new $452 million syndicated debt facility provided by provided by National Australia Bank, Westpac Banking Corporation and Commonwealth Bank of Australia. This follows Cromwell’s recent announcement regarding the execution of the syndicated loan facility documentation approximately 2 weeks ago.

As previously announced to the market, the funds will initially be placed on deposit pending repayment of the Group's current CMBS facility which may occur as late as April 2009. Cromwell intends to finalise an offer to CMBS note holders for the early repayment of the facility. This offer will be made in the next few weeks.

Cromwell’s Treasurer, David Gippel, said “The market is looking for certainty regarding long term debt arrangements. By finalising our new loan facility early, Cromwell can continue to pursue opportunities in the market, safe in the knowledge that our debt position gives the Group a secure base from which to grow. The achievement to fund this volume of debt, at competitive pricing, in a difficult market, is further confirmation that the Cromwell brand and strategy is well regarded and accepted by the banks we deal with and the wider market in general. The refinance will provide Cromwell with a solid platform to enable it to take advantage of anticipated opportunities in the market.”

ENDS: Media Enquiries to Paul Weightman on 0411 111 028

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