CVC LIMITED — Capital/Financing Update 2007

Aug 12, 2007

ASX ANNOUNCEMENT

CVC TRINITY PROPERTY FUND ACQUIRES RICOH SYDNEY HEADQUARTERS FOR $21 MILLION

13.08.2007

Listed CVC Trinity Property Fund (ASX: CJT) has announced the acquisition of the Ricoh Group headquarters in Sydney for $21 million.

The hi-tech office and industrial property is located on a 10,290 square metre site at 8 Rodborough Road, Frenchs Forest with primary frontage onto Warringah Road.

The building comprises 8,065 square metres of net lettable area and is 100% leased to Ricoh Australia Pty Ltd on a 6.5 year lease and was acquired on an initial yield of 7.46%.

CVC Trinity Property Fund Chairman Geoff Leaver said the Ricoh building was a quality asset for the fund’s growing portfolio.

He said the acquisition highlighted the experience and expertise of the fund’s joint venture partners, listed investment group CVC Limited (ASX: CVC) and listed diversified property group Trinity (ASX: TCQ).

“This purchase is a strategic addition to our portfolio and showcases the benefit of Trinity’s national deal-finder network and its ability to source and secure prime off-market investment opportunities,” he said.

“It represents a significant expansion of the growing CVC Trinity Property Fund portfolio and is in line with CVC Limited’s track-record of investing in assets that deliver strong, recurrent revenue streams.

“The property is well located, with close proximity to major arterial roads in Sydney’s northern suburbs, and is backed by a long-term commitment from a blue-chip corporate tenant.”

The Ricoh complex at Frenchs Forest was completed in 1998 and incorporates 3,637 square metres of warehouse space and three upper levels of office and technical space with a total area of 4,428 square metres. This office accommodation features large floor plates of 1,100 square metres. The building also provides basement parking for 74 cars and a further 102 on-site bays.

The Ricoh Group is a global office equipment business with 376 subsidiary and 28 affiliate offices worldwide.

The property was marketed by James Barker and Marc Gruiffrda of Knight Frank on behalf of the vendor, IOOF.

The CVC Trinity Property Fund is investigating further acquisitions and is targeting to grow funds under management to in excess of $200 million by December 2008.

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Mr Leaver said the Ricoh acquisition was one of a number of new acquisition and development opportunities being evaluated by the fund.

He said that, subject to shareholder approval, the fund planned to conduct a new capital raising to fund future purchases.

At the end of 2006, CVC Trinity Property Fund completed a $7.5 million capital raising to fund the acquisition (subject to Development Approval) of its first property asset, the Lifestyle Retail development site at Belrose in Sydney.

On 13 March the Fund received Development Approval for a 14,000 square metre bulky goods development to be constructed on the Belrose site.

CVC Trinity Property Fund has received an objection to the granting of the development approval by a competitor. The Directors are seeking legal advice on the situation but in the meantime are continuing to finalise construction contracts and negotiate with potential tenants.

A hearing has been set down in the Land and Environment Court of New South Wales 24 August 2007.

The Responsible Entity for the listed CVC Trinity Property Fund, CVC Property Managers Limited, is a joint venture between listed investment group CVC Limited and the rapidly growing listed diversified property group Trinity.

On 5 July 2007, CVC Trinity Property Fund announced the appointment of two senior Trinity executives – Chief Executive Officer Ben McCarthy and Head of Property Bruce Baker – to its Board of Directors.

Mr McCarthy said the Ricoh building was a quality off-market investment opportunity that was well suited to the CVC Trinity Property Fund.

“This purchase showcases Trinity’s critical market advantage in sourcing prime properties and placing them in a specific fund that provides the most appropriate risk return profile and transparency,” he said.

ENDS

For further information please contact:

Geoff Leaver CVC Trinity Property Fund (02) 9087 8000

Ben McCarthy CEO Trinity (07) 3221 1221

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