CVC LIMITED — Board/Management Information 2007

Jul 5, 2007

TWO NEW DIRECTORS APPOINTED TO CVC TRINITY PROPERTY FUND

CVC Trinity Property Fund (ASX: CJT) has announced the appointment of two senior property executives to its Board of Directors.

Ben McCarthy, Chief Executive Officer of listed diversified property group Trinity (ASX: TCQ), and Bruce Baker, Head of Property at Trinity, bring extensive high-level property experience to the Board of CVC Trinity Property Fund.

CVC Trinity Property Fund Chairman Geoff Leaver said the new appointments capitalised on the complementary experience and strengths of the fund's joint venture partners. CVC Limited (ASX: CVC) and Trinity.

"Through their extensive experience in the property industry. Ben and Bruce will enhance the fund's market intelligence, and harness Trinity's national deal-finder network to identify and source future prime off-market investment and development opportunities.

"In a fiercely competitive investment market this is a critical advantage for the CVC Trinity Property Fund, which also benefits from CVC Limited's expertise in sourcing and negotiating investments in assets that deliver strong, recurrent revenue streams," Mr Leaver said.

Mr McCarthy has been the Chief Executive Officer of Trinity since its listing on the Australian Stock Exchange in December 2004. He has more than 25 years experience in construction, development, facilities management, project finance and business management. He was previously the deputy managing director of Multiplex Developments Pty Ltd.

Mr Baker joined Trinity in January 2007 to head the Group's Property Operations division. He was previously State Chief Executive (QLD) and National Director (Investment Sales) for Colliers International and has an extensive 20-year track record in the property industry, particularly in property investment.

In a related announcement, CVC Trinity Property Fund secured Development Approval in March 2007 for its Lifestyle Retail development site at Belrose in Sydney. Subject to shareholder approval, construction is expected to commence in September 2007 and be completed by March 2008. Trinity's wholly-owned development subsidiary Consolidated Properties will manage the project.

The development has an end value of approximately \$60 million and has generated strong interest from prospective blue chip anchor tenants.

The CVC Trinity Property Fund is on track to achieve its target of more than \$200 million in funds under management by December 2008, reinforcing the joint venture partners' commitment to delivering a strong pipeline of high quality development opportunities.

The Lifestyle Retail site is the first of several investment opportunities CVC Trinity Property Fund has identified for future acquisition and development. Subject to shareholder approval of the Belrose acquisition, the fund will conduct a capital raising to fund these purchases in the coming months.

ENDS

For further information contact:

Geoff Leaver CVC Trinity Property Fund (02) 9087 8000

Ben McCarthy CEO Trinity (07) 3221 1221