DEXUS — Regulatory Filings 2004

Dec 16, 2004

B RREFF

Managed in partnership with Deutsche Bank $\boxdot$

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

Level 23 333 Collins Street Melbourne Vic 3000

PO Box R1822 Royal Exchange NSW 1225

Telephone 61 3 9270 4141 Direct 61 3 9270 4419 Facsimile 61 3 9270 4411

Email: karol.oreilly@dbrreef.com

17 December 2004

The Manager Australian Stock Exchange Limited 20 Bridge Street Svdnev NSW 2000

Dear Sir / Madam

DB RREEF Trust (ASX: DRT) - December 2004 Distribution

DB RREEF Funds Management Limited as responsible entity for the DB RREEF Trust stapled security, is pleased to advise the following details concerning the forthcoming December 2004 Half Year Income Distribution.

The estimated distribution amount is 5.2 cents per staple security and the following dates are applicable for this distribution:

Ex-distribution date: Record date: Payment date and dispatch of statements:

23 December 2004 31 December 2004 28 February 2005

The Distribution Reinvestment Plan will operate for this distribution payment and will be underwritten as outlined in the Explanatory Memorandum dated 30 August 2004. Stapled security holders who wish to participate in the DRP should lodge their DRP Election form with the Registry by 31 December 2004. The DRP issue price will be announced at a later date.

For further information, please contact Karol O'Reilly on (03) 9270 4419 or for media inquiries Ainsley Gee on (02) 9249 9904.

are the world many management of

$\sim$

Yours sincerely

للمستشف

$\Delta \sim 10^7$

lan Thompson Company Secretary