CVC LIMITED — Capital/Financing Update 2007

Mar 14, 2007

15 March 2007

Australian Securities Exchange Limited 20 Bridge Street Sydney NSW 2000

By: e-lodgement

Attention: Company Announcement

Development Approval for Austlink Business Park Lifestyle Retail Site

The Directors of CVC Property Managers Limited, the Manager of the listed CVC Trinity Property Fund (ASX: CJT), are pleased to announce that approval has been granted for the development of the $14.157m²$ Lifestyle Retail site located in the Austlink Business Park at Belrose New South Wales. The approval represents the completion of all the conditions required prior to the purchase of the property from CVC Limited (ASX: CVC).

The acquisition of the Belrose Lifestyle Retail site will form the cornerstone asset of CJT with the future strategy to grow the fund to \$200 million in the medium term. The Manager is currently evaluating several other sites that could be acquired by the Fund.

The approval for the development of the site will allow CJT to complete the issue of units from the capital raising of \$7.5 million completed in December 2006 which will provide greater liquidity for unit holders.

CVC Property Managers Limited is a joint venture between listed investment group CVC Limited and the rapidly growing listed diversified property group Trinity Group (ASX: TCO).

For further information please contact:

	Geoffrey Leaver Chairman, CVC Property Managers Limited 02 9087 8000
Ben McCarthy CEO, Trinity		07 3221 1221

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