CROMWELL PROPERTY GROUP — Capital/Financing Update 2012

May 29, 2012

ASX Announcement

30 May 2012

CROMWELL SELLS INDUSTRIAL ASSET FOR $39.35 MILLION

Cromwell Property Group (ASX:CMW) has sold the Masters Distribution Centre at Hoppers Crossing, Victoria for $39.35 million. The sale price was in line with the current carrying value and most recent independent valuation at 31 December 2011.

The property, which incorporates approximately 52,364 square metres of modern high clearance logistics space plus canopies and loading docks, is 100% leased and is used by Woolworths as a distribution centre for the Masters Hardware business.

The property has a weighted average lease expiry (WALE) of 8.5 years.

The building was sold to a Charter Hall Group managed fund and the sale price reflects a passing yield of approximately 8.1%.

Cromwell CEO Paul Weightman said the decision to dispose of the asset was consistent with Cromwell’s strategy of continually refining its property portfolio, with a focus on assets considered to have the highest risk-weighted return.

“The Hoppers Crossing facility was delivering a consistent yield following the new 10 year lease we negotiated with Woolworths in 2011. However, we believe we can achieve a higher medium-term return by investing in assets elsewhere.” Mr Weightman said.

ENDS.

Media Enquiries: Cromwell Securityholder Enquiries: Paul Weightman Investor Services Centre Managing Director/CEO 1300 CROMWELL (1300 276 693) 0411 111 028 +61 7 3225 7777 (outside Australia) pweightman@cromwell.com.au invest@cromwell.com.au

Cromwell Property Group (ASX:CMW) comprising Cromwell Corporation Limited (ABN 44 001 056 980) and 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). Further information and media releases can be found at the Cromwell website: www.cromwell.com.au