DEXUS — Interim / Quarterly Report 2010

Mar 25, 2010

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DEXUS Property Group - ASX release
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26 March 2010

DEXUS Property Group (ASX:DXS) Half Year Report for the period ending 31 December 2009

DEXUS Funds Management Limited, as responsible entity for DEXUS Property Group (DXS), provides a copy of the 2009 Half Year Report which will be mailed to investors today.

For further information contact:

Media Relations Investor Relations Emma Parry T: (02) 9017 1133 Daniel Rubinstein T: (02) 9017 1336 M: 0421 000 329 M: 0466 016 725 E: emma.parry@dexus.com E: daniel.rubinstein@dexus.com Karol O’Reilly T: (03) 8611 2930 M: 0405 134 856 E: karol.oreilly@dexus.com

About DEXUS

DEXUS is one of Australia’s leading property groups specialising in world-class office, industrial and retail properties with total assets under management of $13 billion. In Australia, DEXUS is the number 1 owner/manager of office, number 3 in industrial and, on behalf of third party clients, a leading manager and developer of shopping centres.

DEXUS is committed to being a market leader in Corporate Responsibility and Sustainability and has been recognised for the second year running as one of the Global 100 Most Sustainable Corporations at the World Economic Forum in Davos. www.dexus.com

DEXUS Funds Management Ltd ABN 24 060 920 783, AFSL 238163, as Responsible Entity for DEXUS Property Group (ASX: DXS)

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2009 dexus property Group HALF YEAR REPORT

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Key results our vision

3

our vision 4 Chief exeCutive offiCer’s report 6 finanCial reports 18 investor information 21

direCtory 22

Key results

	31 dec 2009	30 Jun 2009
Closing price (ASX code: DXS)	$0.85	$0.75
Net tangible assets per security	$0.95	$1.01
Number of securities on issue	4,766.0m	4,700.8m
Number of security holders	23,544	23,050
	$bn	$bn
Market capitalisation	4.1	3.5
Total assets	7.8	8.4
Interest bearing liabilities	2.4	2.5
Gearing (look through basis)	31.9%	31.2%
Net assets attributable to security holders	4.7	4.9
Third party funds under management	5.5	5.6
Total funds under management	13.0	13.5
property	31 dec 2009	30 Jun 2009
Number of property investments	186	204
Portfolio occupancy	91.2%	91.5%
Portfolio weighted average lease expiry (years)	5.0	4.8
	31 dec 2009	31 dec 2008
Funds from operations ($m)	181	189
Funds from operations (cents per security)	3.8	5.4
Distributions ($m)	126	132
Distributions (cents per security)	2.65	3.80

dexus property Group Half Year report 2009 3

our vision

WORLD CLASS QUALITY PORTFOLIO

STRATEGIC LOCATIONS IN AUSTRALIA AND NORTH AMERICA

MARKET LEADER IN OFFICE AND INDUSTRIAL

FULLY INTEGRATED PROPERTY MANAGEMENT MODEL

DELIVERING SERVICE EXCELLENCE TO OUR TENANTS

MAXIMISING RETURNS

SELECTIVE DEVELOPMENTS CREATING VALUE SUSTAINABLE DESIGN HIGH QUALITY WORKSPACES

Governor phillip tower, 1 farrer place, Sydney, NSW

4 dexus property Group Half Year report 2009

Strategic focus

• n Maintain leadership positions: No.1 in office and No.3 in industrial in australia

• n Commence the repositioning of our international portfolio to concentrate on fewer markets

• n Strengthen our balance sheet and further diversify funding sources

Operational achievements to date

• n Commenced US repositioning to fewer markets

• n Sold smaller non‑core assets – $108m in australia and US$206m in US

• n Sold remaining retail property a$256m

• n acquired australian industrial property a$46m

• n acquired three Whirlpool properties US$202m

• n raised MtN finance a$160m

• n raised US public market debt US$300m

• n progress the integration of our property management model across our portfolios

• n Continue our active property management focus, delivering strong operating results

• n Maintain our leadership position in Corporate responsibility and Sustainability

• n progress the next generation of quality office and industrial workspace with our 6 star office developments at 1 Bligh Street and 123 albert Street and our industrial development land banks, strategically located at laverton North, VIC and Greystanes, NSW

• n Management internalisation driving performance office – completed Industrial – progressing North america – commenced

• n recognised as one of the “Global 100 Most Sustainable Corporations” at Davos in 2010

• n 123 albert Street on track to open Dec 2010 – 68%+ leased n 1 Bligh Street on track to open May 2011 – 55% leased

• n Greystanes – pre‑commitments under construction n laverton – final 65 hectares re‑zoned

dexus property Group Half Year report 2009 5

Chief exeCutive offiCer’s report

6 dexus property Group Half Year report 2009

I AM PLEASED TO PRESENT THIS HALF YEAR REPORT TO SECURITY HOLDERS OF DEXUS PROPERTY GROUP FOR THE SIX MONTHS TO 31 DECEMBER 2009.

During the half year we made significant progress on our key objectives to further enhance the high quality of our portfolio, strengthen our balance sheet and to drive performance through a focus on asset and property management. these initiatives included:

• n progressing the development of our two major 6 Star office developments in Sydney and Brisbane

• n Commencing two industrial pre‑committed developments at Greystanes, NSW valued at $53 million with a yield of 8.8% on total cost

• n acquiring prime industrial property in Matraville, a preferred Sydney market, for $46 million on a yield of 9.3%

• n Completing rezoning at our laverton Industrial estate in Victoria

• n Internalising our Melbourne industrial property management activities and commencing the program in Sydney

• n Selling a number of smaller non‑core office and industrial assets for $108 million

• n Selling our 50% interest in the Westfield Whitford City Shopping Centre in Western australia for $256 million

• n Completing the Whirlpool US industrial acquisition program by acquiring distribution facilities in Seattle, atlanta and Columbus for US$202 million

• n Selling a number of non‑core US properties totalling US$206 million

• n Commencing the US property repositioning strategy reducing our footprint from 21 markets to 17 markets.

all this activity has been underpinned by the strength of our financial position. DeXUS continues to maintain a strong balance sheet with the diversification and duration of our funding sources being further improved during the period.

prudent capital management

active capital management continues to be a key focus and in July 2009 DeXUS was one of the first australian groups to issue Medium term Notes (MtN) since the market closed in late 2007. We issued a$160 million in the form of five year floating rate notes, maturing in July 2014. the MtN issue further increased our debt duration and diversity of funding sources.

In September 2009, DeXUS became only the second australian reIt to issue into the US 144a public bond market, issuing US$300 million fixed rate senior unsecured five year notes. this issue opens up a new source of funding in one of the deepest and most liquid bond markets in the world.

dexus property Group Half Year report 2009 7

Chief exeCutive offiCer’s report Continued

Gearing remained stable at 31.9%, well within our target of being below 40%. additionally, all our financial metrics are well within covenant limits. We continue to maintain DeXUS’s Standard & poor’s credit rating of BBB+ (stable outlook) and in September 2009 we received a Moody’s Baa1 (stable outlook) rating.

financial results

operating earnings before interest and tax (eBIt), declined slightly by 1.1% to $240.5 million in December 2009. this reflects the more difficult operating conditions in 2009 but demonstrates the resilience and inherent value of our quality property portfolio with solid results achieved in our australian portfolios, offset by the impact of weaker operating conditions primarily in North america.

axxess Corporate park Cnr ferntree Gully & Gilby roads, Mount Waverly, VIC

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after allowing for interest and tax, funds from operations (ffo) – our core operating performance measure – was $181.1 million, which was down 4.0% reflecting the increased cost of debt, the impact of the property sales program and the more difficult operating conditions.

While the capital raisings undertaken last year have proven to be the appropriate response to the financial markets crisis by ensuring our business remains financially sound and well positioned for the future, it has caused earnings per security to be diluted. this is reflected in our ffo of 3.8 cents per security for the half year, of which 2.65 cents was distributed for the December 2009 distribution.

the Group’s reported statutory net loss after tax attributed to security holders for the six months ending 31 December 2009 was $107 million, compared to the loss of $975 million in December 2008.

the Zenith, 821 pacific Highway, Chatswood, NSW

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8 dexus property Group Half Year report 2009

Contributing factors making up the loss were non cash property devaluations of $286 million and losses on the sale of non‑core assets of $50 million.

property revaluations

revaluations were undertaken on all properties and resulted in a 4% reduction in the Group’s overall portfolio value. While the australian office and industrial portfolios, which account for approximately 78% of the Group portfolio, were relatively stable, the North american portfolio reduced in value by 10%.

In accordance with a new accounting standard, the fair valuing of each of our developments under construction resulted in a reduction in value of those developments due to factors such as incomplete lease commitments.

property fundamentals

Domestic property fundamentals have remained solid and we have continued to achieve significant leasing success, resulting in stable occupancy and retention rates across all sectors, reflecting the strong relationships we have built with our tenants and the continued appeal of our high quality property portfolio.

overall occupancy by area is 91.2% down slightly from 91.5% at June 2009, while the average lease duration by income increased to 5.0 years (June 2009: 4.8 years) primarily due to the US Whirlpool industrial acquisitions. as shown in the chart below, our portfolio is diversified across the office and industrial sectors in australia and North america.

PORTFOLIO DIVERSIFICATION AS AT 31 DECEMBER 2009

Since the peak in December 2007, average capitalisation rates across the portfolio have expanded by 170 basis points or 27% and now stand at 8.0%.

It is our view that we are now at the end of the australian devaluation cycle, as economic recovery and improved business and investor sentiment have boosted the prospects of growth in rents and values. this is supported by a return in tenant demand and limited new supply. We believe the writedowns in relation to development projects, caused by a change in accounting standards, should effectively be regained as the projects reach completion. We also believe we are nearing the bottom of the US devaluation cycle.

$7.0bn Assets[1] Office Australia 57% Industrial Australia 21% Industrial North America 19% Industrial Europe (to be sold) 3%

• 1 excludes Westfield Whitford Shopping Centre and cash and other assets.

dexus property Group Half Year report 2009 9

Chief exeCutive offiCer’s report Continued

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office sector – australia and new Zealand

DeXUS’s high quality office portfolio has continued to perform well in all key operating metrics driven by our experienced team.

the portfolio was valued at $4 billion, down 1% on 30 June 2009. Net property Income (NpI) increased 2.4% over the period to $121.9 million, representing 49% of the Group’s NpI. the underlying like for like income growth was 2.7% over the period.

our proactive leasing and property management approach resulted in occupancy by area of 95.8% (June 2009: 97.6%), an average lease duration by income of 5.4 years (June 2009: 5.4 years). the tenant retention rate reduced to 61% (June 2009: 75%) reflecting market conditions.

New leases and renewals were negotiated over 40,226 square metres of existing office space, which represents 8% of the office portfolio, delivering an average rental increase of 9.2% and average tenant incentives of 23.6%.

Construction of 123 albert Street, Brisbane and 1 Bligh Street, Sydney are both on track and on budget and due for completion in December 2010 and May 2011 respectively.

Woodside plaza, 240 St Georges terrace, perth, Wa

10 dexus property Group Half Year report 2009

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Construction in progress for 1 Bligh Street, Sydney, NSW

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artist's impression of 1 Bligh Street, Sydney, NSW

as tenant demand returns, strong interest in both developments is converting to leasing success. of the eight floors remaining at 123 albert Street, we have signed Heads of agreement on one additional floor, taking the area leased to 72%, and we are in negotiations in respect of three additional floors.

Both office developments are designed to deliver world’s best practice sustainability features and provide the highest levels of tenant amenity and workspace quality.

During the period 123 albert Street achieved a 6 Star Green Star design certification and 1 Bligh Street is currently in the final stages of achieving its Green Star Design rating.

AUSTRALIAN OFFICE LEASE EXPIRY AS AT 31 DECEMBER 2009 (% of portfolio available for lease)

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Area
Income
Vacant < 1 year < 2 years < 3 years < 4 years < 5 years < 6 years < 7 years < 8 years < 9 years < 10 years > 10 years
14.1% 14.8% 14.6% 15.5%
13.3% 12.7%
11.8% 10.7%
9.3% 9.6% 9.0% 10.1% 9.7%
7.1%
6.3% 6.1%
5.3%
4.2% 3.5% 4.3% 3.9%
0.8% 1.8% 1.4%
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dexus property Group Half Year report 2009 11

Chief exeCutive offiCer’s report

Continued

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pound road West, Dandenong, VIC

industrial sector – australia

the australian industrial portfolio performed well during the period, driven by the inherent quality and diversification of the portfolio and a proactive approach to leasing and property management. the diversity of our tenant profile across key sectors of the economy, strong covenants and long tenure continued to deliver consistent performance.

the australian industrial portfolio was valued at $1.5 billion, down 2% since June 2009. NpI of $52.7 million represents 21% of the Group’s NpI with the underlying like for like growth at 1.9% for the period.

our active management approach to the industrial portfolio has resulted in increased occupancy by area of 97.7% (June 2009: 96.9%) and an average lease duration by income of 4.7 years (June 2009: 4.3 years).

New leases, renewals, development leasing and heads of agreement were negotiated

on 108,000 square metres or 10% of the australian industrial portfolio by area. the average tenant incentive was 6% and the tenant retention rate remained stable at 76% (June 2009: 75%).

Consistent with our objective of repositioning our industrial portfolio to enhance quality, since May 2009 we completed approximately $62 million of smaller, non‑core property sales on a passing yield of 7.6%.

In addition, we acquired 2‑4 Military road, Matraville, NSW for $46 million, with an initial passing yield of 9.3% (8.8% after costs) and a weighted average lease expiry by income of 5.7 years.

2‑4 Military road, Matraville, comprises two modern fully leased industrial warehouses with 30,000 square metres of net lettable area and is located in the key South Sydney industrial precinct, adjacent to port Botany and close to Sydney airport.

12 dexus property Group Half Year report 2009

In December 2009, we secured two tenant pre‑commitments that will see DeXUS construct two state of the art industrial buildings providing a total 35,900 square metres of net lettable area at our Greystanes Industrial estate in NSW for Symbion pharmacy Services and eQBD Converting. these two pre‑committed developments signal the start of the development of our Greystanes Industrial estate and are consistent with our strategy to secure long‑term tenant covenants in this quality industrial precinct.

Construction of these two Greystanes developments has commenced and will incorporate features to achieve design and sustainability excellence. Both tenants were attracted by our industrial track record and the estate’s scope and location, with its close proximity to key infrastructure and distribution networks.

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artist’s impression of a new tenant facility at Greystanes, NSW

AUSTRALIAN INDUSTRIAL LEASE EXPIRY AS AT 31 DECEMBER 2009 (% of portfolio available for lease)

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Area
Income
Vacant < 1 year < 2 years < 3 years < 4 years < 5 years < 6 years < 7 years < 8 years < 9 years < 10 years > 10 years
24.4%
21.3%
18.0%
14.1% 13.7%
10.7%
7.1% 7.8% 7.1% 9.1% 9.6% 7.7% 8.4%
5.9% 6.0%
4.2% 4.0% 4.2% 4.9% 4.1%
2.3% 2.7%
1.4% 1.4%
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dexus property Group Half Year report 2009 13

Chief exeCutive offiCer’s report Continued

industrial sector – north america

the North american portfolio is valued at US$1.2 billion down 10.2% since June 2009. NpI was US$46.9 million, representing 22% of the Group’s NpI. Despite leasing 214,000 square metres during the period, the tenant retention rate declined 10% to 60%. Consequently, overall occupancy by area reduced slightly to 87.8% (June 2009: 88.0%) and underlying like for like income growth was down 10.8% on a US dollar basis.

In the six months to 31 December 2009, we acquired the final three Whirlpool properties, thus completing the Whirlpool investment program commenced in 2007. the program has seen the quality of the portfolio enhanced, and has contributed to the increase of the average lease duration by income of the North american portfolio to 4.7 years (June 2009: 4.3 years).

During the half year we continued the property sales program with 22 buildings being sold for US$206 million. these property sales have reduced our North american market exposure from 21 to 17 metropolitan markets. the properties sold were selected for disposal based on their future income and value prospects, scale and fit with the Group's strategy.

these property sales form part of the repositioning strategy to progressively reposition our North american portfolio into a number of key west coast industrial markets, as outlined last year to security holders in the 2009 Security Holder review.

NORTH AMERICAN INDUSTRIAL LEASE EXPIRY AS AT 31 DECEMBER 2009 (% of portfolio available for lease)

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Area
Income
Vacant < 1 year < 2 years < 3 years < 4 years < 5 years < 6 years < 7 years < 8 years < 9 years < 10 years > 10 years
16.8%
15.7%
14.3%
12.2% 12.7% 12.2%
10.6% 11.3% 11.4% 10.8%
9.5% 9.4%
7.7% 7.4%
6.4% 5.6% 5.9%
4.9%
2.8% 2.3% 3.4% 3.0% 2.3%
1.6%
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14 dexus property Group Half Year report 2009

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atlantic Corporate park 45600 & 45610 Woodland road, Sterling, Virginia

Despite the challenging market conditions we are seeing early signs that business confidence is improving in the US.

our focus in the US continues to be on managing our portfolio to maximise results and establishing a DeXUS management office on the west coast.

non-core property portfolios

the european industrial portfolio is valued at €133 million, contributing €6.0 million or 4% of the Group’s NpI with occupancy by area at 87.8% (June 2009: 87.8%). as outlined in our 2009 Security Holder review, the european portfolio is scheduled to be sold. However, since making this decision, we have seen a significant reduction in european property sales.

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19700 38th avenue east, Spanaway, Washington

Consequently, we have deferred the sales program until we see an acceptable level of transactional activity and more competitive pricing return to the european property market.

In December 2009, we sold our last retail property, a 50% interest in Whitford City Shopping Centre, for $256.5 million with settlement to occur in March 2010. proceeds will be used to repay debt in the near term, prior to be being reinvested in DeXUS’s core office and industrial markets.

dexus property Group Half Year report 2009 15

Chief exeCutive offiCer’s report

Continued

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Gateway, 1 Macquarie place, Sydney, NSW

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30 the Bond, 30‑34 Hickson road, Sydney, NSW

third party funds management

the third party funds management portfolio is valued at $5.5 billion (June 2009: $5.6 billion) and remains one of the largest third party platforms in australia. the business comprises the DeXUS Wholesale property fund of $2.8 billion, two mandates totalling $2.6 billion and a single property syndicate valued at $0.1 billion.

In respect of the DeXUS Wholesale property fund we are seeing renewed interest from existing and new investors. looking forward we expect both australian and overseas investor interest to increase, particularly for core style investments.

sustainability

DeXUS continued to drive sustainable performance in the period with a continued focus on resource efficiency projects, community engagement and sustainable developments. DeXUS was again named as one of the world’s 100 most sustainable corporations in the 2010 “Global 100” list, announced at the Davos World economic forum, the only a‑reIt to achieve listing for two consecutive years.

resource consumption reductions were achieved across our portfolios. these initiatives are important to counteract future rises in operating costs, caused by increasing costs of energy and water.

We have also improved our NaBerS energy rating across the entire office portfolio to an average of 3.2 stars.

16 dexus property Group Half Year report 2009

We are committed to improving these ratings to an average of 4.5 Stars by 2012. By doing this we are increasing the sustainability of our properties and their attraction to tenants, thereby future‑proofing our properties to meet future tenant requirements and minimise operating costs.

outlook

the economic outlook in both australia and the US is improving, albeit at differing paces in the cycle. We expect our australian office portfolio performance to be relatively stable in 2010 with good like for like income growth coming through in 2011. In our australian industrial portfolio we expect consistent growth continuing through 2010 and 2011 and in the US, while the market is currently improving, we expect it will remain weak in 2010 and stabilise in 2011.

looking forward our primary focus will be to further enhance the high quality and performance of our australian office and industrial portfolios.

We will continue to drive value through our development pipeline with further pre‑lease commitments anticipated in our industrial development landbanks. In our premium office developments, we are expecting to build on our pre‑lease success to date and aim to achieve a minimum of 90% leased at practical completion.

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1401 e Cedar Street, ontario, California

In the US, our focus is on building our local management capability and over time repositioning the portfolio to our core west coast markets.

Barring unforeseen circumstances, we reconfirm our ffo guidance per security of 7.3 cents with a distribution per security of 5.1 cents for the year ending 30 June 2010.

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victor p hoog antink Chief executive officer 17 March 2010

dexus property Group Half Year report 2009 17

finanCial reports

the following consolidated financial statements for DeXUS property Group are a summary of the Consolidated Statement of Comprehensive Income, Consolidated Statement of financial position, Consolidated Statement of Changes in equity and Consolidated Statement of Cash flows.

Consolidated statement of Comprehensive income

Consolidated statement of Comprehensive income	Consolidated statement of Comprehensive income
31 december 2009		31 december 2008
	($’000)	($’000)
property revenue	338,383	342,767
Management fee income	27,478	28,333
Interest revenue	767	1,987
total revenue from ordinary activities	366,628	373,087
other income	12,134	(20,059)
total income	378,762	353,028
property expenses	(87,032)	(82,630)
finance costs	(57,768)	(485,817)
property devaluations and impairments	(286,265)	(793,910)
Net loss on sale of properties	(50,082)	(437)
employee benefits expense	(28,867)	(30,829)
Depreciation, amortisation and other expenses	(12,109)	(15,112)
total expenses	(522,123)	(1,408,735)
loss before tax	(143,361)	(1,055,707)
total tax benefit	35,184	82,921
loss after tax	(108,177)	(972,786)
exchange differences on translating foreign operations	(11,610)	(3,936)
total comprehensive loss for the period	(119,787)	(976,722)
loss attributed to security holders of dexus diversified trust	(107,027)	(975,153)
Non‑controlling interests	(1,150)	2,367
total loss for the period	(108,177)	(972,786)
total comprehensive loss attributable to security
holders of dexus diversified trust	(118,374)	(979,897)
Non‑controlling interests	(1,413)	3,175
total comprehensive loss for the period	(119,787)	(976,722)

18 dexus property Group Half Year report 2009

Consolidated statement of financial position

	31 december 2009	30 June 2009
	($’000)	($’000)
Cash and receivables	105,361	120,661
property assets	7,303,944	7,741,549
other (including derivative financial instruments)	421,277	488,900
total assets	7,830,582	8,351,110
payables and provisions	253,304	289,561
Interest bearing liabilities	2,404,551	2,509,012
other (including derivative financial instruments)	232,041	406,320
total liabilities	2,889,896	3,204,893
net assets	4,940,686	5,146,217
Non‑controlling interests	(204,618)	(206,772)
stapled security holders’ interests	4,736,068	4,939,445

Consolidated statement of Changes in equity

	31 december 2009	31 december 2008
	($’000)	($’000)
opening balance at 1 July 2009	5,146,217	5,835,053
total comprehensive loss	(119,787)	(976,722)
total transactions with owners in their capacity as owners	(85,744)	211,213
Closing balance at 31 december 2009	4,940,686	5,069,544

dexus property Group Half Year report 2009 19

finanCial reports Continued

Consolidated statement of Cash flows

Consolidated statement of Cash flows
	31 december 2009	31 december 2008
	($’000)	($’000)
Net cash inflow from operating activities	152,792	150,405
Net cash outflow from investing activities	(85,000)	(170,536)
Net cash (outflow)/inflow from financing activities	(78,580)	8,650
net decrease in cash and cash equivalents	(10,788)	(11,481)
Cash and cash equivalents at the beginning
of the period	84,845	99,214
effects of exchange rate changes on cash
and cash equivalents	(3,280)	10,635
Cash and cash equivalents at the end of the half year	70,777	98,368

the full financial statements together with the notes to the financial statements and the Directors’ report can be obtained from our website at www.dexus.com or by contacting the Infoline on 1800 819 675.

20 dexus property Group Half Year report 2009

investor information

Investor information

DeXUS property Group is listed on the australian Securities exchange (aSX). the aSX code is DXS.

DeXUS property Group has also listed on the aSX a hybrid security called DeXUS reNtS trust, real‑estate perpetual exchaNgeable step‑up Securities (aSX code: DXrpa).

Security holders will need to use the services of a stockbroker or online broking facility to be able to trade DeXUS property Group (DXS) and reNtS (DXrpa) securities.

Distribution payments

Distributions are paid for the six months to December and June each year. You can receive your distribution by direct credit into your nominated bank account or receive additional DeXUS securities via the distribution reinvestment plan (Drp).

If you wish to change your method of payment or your Drp participation, you should contact the DeXUS Infoline on 1800 819 675.

Non-resident tax information

estimates that make up the DeXUS property Group’s 2009/10 distributions are published on our website in the Investor Centre at www.dexus.com. these estimates are updated for each distribution period prior to the distribution payment and are for non‑resident security holders and custodians of non‑resident security holders.

Apportionment percentages

apportionment percentages for DeXUS property Group stapled securities since stapling can be found on the tax information page in the Investor Centre on our website at www.dexus.com or by contacting the Infoline on 1800 819 675.

Website

Information relating to the DeXUS property Group can be found at www.dexus.com the website contains information on our funds, property portfolio and corporate information. the site also provides access to your investment details, fund reports and aSX announcements.

Complaints handling

any security holder wishing to lodge a complaint should do so in writing and forward it to DeXUS funds Management limited at the address shown in the Directory. DeXUS funds Management limited is a member of financial ombudsman Service (foS), an independent dispute resolution scheme who may be contacted at:

financial ombudsman Service Gpo Box 3 Melbourne VIC 3001

phone: 1300 780 808 fax: +61 3 9613 6399 email: info@fos.org.au Website: www.fos.org.au

Annual tax statement

each financial year security holders will receive a tax statement. this statement summarises the distributions paid to you during the year and includes information required to complete your tax return.

dexus property Group Half Year report 2009 21

direCtory

DeXUS Diversified trust arSN 089 324 541

DeXUS Industrial trust arSN 090 879 137

DeXUS office trust arSN 090 768 531

DeXUS operations trust arSN 110 521 223

Responsible Entity

DeXUS funds Management limited aBN 24 060 920 783

Auditors

pricewaterhouseCoopers Chartered accountants 201 Sussex Street Sydney NSW 2000

Investor enquiries

registry Infoline: 1800 819 675 or +61 2 8280 7126 Investor relations: 02 9017 1330 email: ir@dexus.com Website: www.dexus.com

Security registry

Registered office of the Responsible Entity

level 9, 343 George Street Sydney NSW 2000

po Box r1822 royal exchange Sydney NSW 1225 phone: +61 2 9017 1100 fax: +61 2 9017 1101

Directors of the Responsible Entity

Christopher t Beare, Chair elizabeth a alexander aM Barry r Brownjohn John C Conde ao Stewart f ewen oaM Victor p Hoog antink, Ceo Brian e Scullin peter B St George

Secretaries of the Responsible Entity

tanya l Cox John C easy

link Market Services limited level 12, 680 George Street Sydney NSW 2000

locked Bag a14 Sydney South NSW 1235

registry Infoline: 1800 819 675 or +61 2 8280 7126 fax: +61 2 9287 0303 email: registrars@linkmarketservices.com.au Website: www.linkmarketservices.com.au

Monday to friday between 8.30am and 5.30pm (Sydney time).

for enquiries regarding your holding you can either contact the Security registry, or access your holding details via the Investor Centre on our website www.dexus.com and click on the Investor login link.

Australian Securities Exchange

aSX Code: DXS

22 dexus property Group Half Year report 2009

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Consistent with DeXUS’s commitment to sustainability, this report is printed on an fSC Mixed Sources Certified paper, which ensures that all virgin pulp is derived from well‑managed forests and controlled sources. It contains elemental chlorine free (eCf) bleached pulp and is manufactured by an ISo 14001 certified mill. the mill operates a three step, waste water and recycling treatment system. these steps involve chemical treatment; micro‑organism treatment; and penton treatment. the mill utilises steam for energy sourced from its own cogeneration plant and has recently concluded a Voluntary agreement for energy conservation. the printer of this report has forest Stewardship Council (fSC), Chain of Custody Certification.

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