CROMWELL PROPERTY GROUP — Capital/Financing Update 2008

Jun 29, 2008

ASX Announcement June 30, 2008

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CROMWELL SETTLES $166 MILLION TUGGERANONG OFFICE PARK

Property and funds manager Cromwell Group (ASX: CMW) announced today it has completed the acquisition of the Tuggeranong Office Park in Greenway, ACT, for $166.025 million.

The property has been acquired on an initial yield of 10.7 per cent and is fully leased to the Commonwealth Government until December, 2016. The site has the potential for development of a further 75,000 sqm of commercial office and residential space.

Cromwell CEO Paul Weightman said the acquisition was made possible by the Group’s conservative debt strategy which made it one of the few financially capable buyers in the current market.

“Selling down a number of assets throughout 2007 and significantly reducing our debt levels while increasing our cash reserves has given us the financial freedom to pursue quality assets which we believe represent good value,” he said.

“This is a quality asset which due to market conditions we believe we were able to acquire at an attractive price.

“In addition to our own strong financial position, we also have backing from high net worth investors who are part of our Cromwell Private Wealth programme. We will continue to look at value opportunities as they arise for these investors.”

The Tuggeranong Office Park was completed in 1991 and is spread over an 8.078 hectare site and has a net lettable area of approximately 33,045 sqm.

The building comprises five individual buildings of up to three storeys with enclosed walkways. The basement area includes both service areas and 291 car parks with a further 469 open car parks on-site.

The property is on the western fringe of the Town Centre in Tuggeranong, which is located about 25 kilometres south of Canberra City.

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