CVC LIMITED — Capital/Financing Update 2006

Dec 20, 2006

21 December 2006

Manager, Company Announcements Australian Stock Exchange Limited Level 6 20 Bridge Street Sydney NSW 2000

ASX Announcement

PLACEMENT FULLY SUBSCRIBED

The Directors of CVC Property Managers Limited, the Manager of the listed Taragon Property Fund, are pleased to announce the recent capital raising of \$7 million has been fully subscribed. Subscriptions include amounts received from both Trinity (ASX Code: " $TCQ$ ") and companies associated with CVC Limited (ASX Code: "CVC") and are as follows:

Trinity	\$2,500,000
Companies Associated with CVC Limited	\$2,500,000

The funds will be used to acquire a retail bulky goods development site in the Sydney suburb of Belrose. The property will provide the platform for a future growth strategy which will result in the fund growing to \$200 million in the medium term.

CVC Property Managers Limited is a joint venture between listed investment group CVC Limited and the rapidly growing listed diversified property group Trinity.

For further information please contact:

	Geoffrey Leaver Chairman, CVC Property Managers Limited 02 9087 8000
Ben McCarthy CEO, Trinity		07 3221 1221
	Vanessa Wall Communications Manager, Trinity	07 3221 1221 0417 626 196

John Hunter Company Secretary

CVC Property Managers Limited ACN 066 092 028 AFSL 229809

Level 42, AAP Centre 259 George Street Sydney NSW 2000

T 02 9087 8000 F 02 9087 8088 www.cvc.com.au