DEXUS — Major Shareholding Notification 2011

Jul 5, 2011

Form 605

Corporations Act 2001 Section 671B

Notice of ceasing to be a substantial holder

To Company Name/Scheme	DEXUS PROPERTY GROUP [DXS]
ACN/ARSN	ACN 080 918 252

1. Details of substantial holder (1)

Name	ING Group (and its related body corporates)
ACN/ARSN (if applicable)
The holder ceased to be a substantial holder on	04/07/2011
The previous notice was given to the company on	01/02/2011
The previous notice was dated	01/02/2011

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Nature of change (4)	Consideration given in relation to change (5)	Class (6) and number of securities affected	Person's votes affected

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable)	Nature of association
ING Clarion Real Estate Securities	Ceased to be associated with ING Group as from $01/07/11$ due to the sale of ING Clarion Real Estate Securities to CB Richard Ellis (Appendix A)

4. Addresses

The addresses of persons named in this form are as follows:

Name	Address
ING Groep NV	ING House, Armstelveenseweg 500 1081 KL Amsterdam Netherlands
ING Investment Management Limited	Level 21, 83 Clarence Street, Sydney, NSW, 2000

Signature

print name	David Hendriks	Director, Compliance capacity ING Investment Management Limited
sign here	Mun $/ln\dot{v}/$	06/07/2011 date

Appendix A

CORPORATE COMMUNICATIONS

PRESS RELEASE

Amsterdam, 1 July 2011

ING completes divestment of Clarion Real Estate Securities

ING announced today that it has completed the sale of Clarion Real Estate Securities (CRES), ING's US-based manager of listed real estate securities, as well as the sale of ING's equity interests in funds managed by CRES, to CB Richard Ellis Group, Inc., a leading global commercial real estate services firm

The divestment of CRES and ING's equity stakes in funds managed by CRES is part of the agreement with CB Richard Ellis that ING announced on 15 February 2011. As announced then, ING agreed to sell CRES, ING's real estate investment management businesses in Europe and Asia, and part of ING's equity interests in the funds managed by these businesses to CB Richard Ellis for a total consideration of approximately USD 1 billion.

ING continues to expect the rest of the transaction with CB Richard Ellis to close in the second half of 2011.

Press enquiries Victorina de Boer +31 20 541 5469 Victorina.de.Boer@ing.com Investor Inquiries Alexander Mollerus +31 20 541 6482 Alexander.Mollerus@ing.com

About ING

ING is a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services. As of 31 March 2011, ING served more than 85 million private, corporate and institutional clients in more than 40 countries. With a
diverse workforce of about 105,000 people, ING is dedicated to setting the standard in helping our future.

Important Legal Information

Certain of the statements contained herein are not historical facts, including, without limitation, certain statements made of
Certain of the statements contained herein are not historical facts, including, without limitat involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation: (1) changes in general economic conditions, in particular economic conditions in ING's core markets, (2) changes in performance of financial markets, including developing markets ING's restructuring plan to separate banking and insurance operations, (4) changes in the availability of, and costs associated ING's restructuring plan to separate banking and insurance operations, (4) changes in the availability of, and costs associated
with, sources of liquidity such as interbank funding, as well as conditions in the credit mark reason.

This is 'page Append's A'

Puid Clemel