DEXUS — Board/Management Information 2005

Jun 30, 2005

1 July 2005

The Manager Company Announcements Australian Stock Exchange Limited 20 Bridge Street SYDNEY NSW 2000

DB RREEF Funds Management Limited ABN 24 060 920 783 Australian Financial Services Licence Holder

Level 18 225 George Street Sydney NSW 2000

PO Box R1822 Royal Exchange NSW 1225

Telephone 61 2 9258 1234 Direct 61 2 9258 2364 Facsimile 61 2 9258 1101

Dear Sir / Madam,

DB RREEF TRUST & DB RREEF RENTS TRUST Change of Company Secretary

This is to advise that Mr John Campbell Easy has been appointed, with immediate effect, as an additional Company Secretary of DB RREEF Funds Management Limited, Responsible Entity for DB RREEF Trust and DB RREEF Rents Trust.

Also, Mr Ian Stanley Thompson has resigned, with immediate effect, as a Company Secretary of DB RREEF Funds Management Limited.

Yours faithfully,

TANÝA L. COX Company Secretary