DEXUS — Capital/Financing Update 2009

Jul 20, 2009

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21 July 2009

The Manager Australian Securities Exchange Limited 20 Bridge Street Sydney NSW 2000

DEXUS Funds Management Limited ABN 24 060 920 783 AFSL: 238163 Level 9, 343 George Street Sydney NSW 2000 PO Box R1822 Royal Exchange NSW 1225 Telephone 02 9017 1100 Direct 03 8611 2930 Facsimile 03 8611 2910

Dear Sir/Madam

Email: karol.oreilly@dexus.com

– DEXUS Property Group (ASX: DXS) completes A$160 million MTN issue

DEXUS Funds Management Limited, as responsible entity for DEXUS Property Group (DXS), completes a A$160 million MTN issue.

For further information, please contact:

Investor Relations: Karol O’Reilly (03) 8611 2930 Media Relations: Emma Parry (02) 9017 1133

Yours sincerely

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Tanya Cox Company Secretary

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21 July 2009

DEXUS Property Group (ASX:DXS) completes A$160 million MTN issue

DEXUS Property Group has completed a Medium Term Note (MTN) issue of A$160 million, as part of the existing MTN program. The issue is in the form of a five year floating rate note, maturing in July 2014 and is priced at 450 basis points over 3 month BBSW benchmark.

The transaction was well supported by investors and was oversubscribed from an initial launch volume of $100 million.

DEXUS Chief Executive Officer, Victor Hoog Antink commented: “As part of our proactive approach to capital management we continue to look at ways to diversify our funding sources. This MTN issue will further increase our debt duration and diversity of funding sources. Combined with the recent capital raising and selected asset sales, this further strengthens our balance sheet and provides us with greater flexibility in terms of managing our capital requirements.

The strong support from investors reflects the position of DEXUS as a leading A-REIT, recognised by the market for its prudent approach to capital management.”

ANZ, Commonwealth Bank of Australia, Credit Suisse, Macquarie and Westpac were Joint Lead Managers to the transaction, which is scheduled for settlement on 27 July 2009.

Details of the transaction are as follows:

Amount issued: A$160 million Margin: 450 basis points Settlement: 27 July 2009 Maturity date: 28 July 2014 Type of Security: Floating Rate Notes Ranking of Security: Senior Unsecured S&P Rating: BBB+ (stable outlook)

For further information contact:

Karol O’Reilly, Investor Relations: (03) 8611 2930/0405 134 856 or karol.oreilly@dexus.com Emma Parry, Media Relations: (02) 9017 1133/0421 000 329 or emma.parry@dexus.com

About DEXUS

DEXUS is one of Australia’s largest diversified property groups and a leading owner, manager, developer of world-class office, industrial and retail properties in Australia, New Zealand, the United States, Canada and Europe. DEXUS is committed to the long-term integration of sustainability practices throughout its property portfolio and was recently recognised as one of the Global 100 Most Sustainable Corporations at the World Economic Forum in Davos. www.dexus.com

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