DEXUS — Regulatory Filings 2004

Oct 25, 2004

DB RREEF Trust

Managed in partnership with Deutsche Bank Z

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

Level 21 83 Clarence 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

26 October 2004

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

Dear Sir / Madam,

DB RREEF TRUST - CHANGE OF COMPLIANCE COMMITTEE MEMBERS

This is to advise that Mr William Brian Robinson has resigned as a member and Chair of the Compliance Committee of DB RREEF Funds Management Limited, Responsible Entity of DB RREEF Trust. He will be replaced as member and Chair by Mr Brian Edwin Scullin, effective immediately.

Mr Phillip Raymond Maher has also resigned as a member of the Committee.

Yours faithfully. DB RREEF FUNDS MANAGEMENT LIMITED

IAN S. THOMPSON

$\mathbf{I}$

Company Secretary

MP5420.DOC/CS129