DEXUS — Regulatory Filings 2004

Oct 4, 2004

MARKET RELEASE

5 October 2004

DB RREEF Trust

PRE-QUOTATION DISCLOSURE

Official Quotation of the following stapled securities will commence at the commencement of normal trading (ie $10:02:15$ am AEST $+/- 15$ seconds) on Wednesday, 6 October 2004 under the name of DB RREEF Trust.

2,583,842,242 (approximately)

stapled securities (each stapled security consists of one fully paid ordinary unit in the Trust, one fully paid ordinary unit in Deutsche Office Trust (ASX code DOT), one fully paid ordinary unit in Deutsche Diversified Trust (ASX code DDF) and one fully paid ordinary unit in Deutsche Industrial Trust (ASX code DIT)

The following information is released as pre-quotation disclosure.

• 1. Indicative distribution schedule - Appendix 1A, paragraph 48.
• 1. Indicative Top 20 holders.

Security Code: DRT

A Singthe

Adrian Smythe
Senior Companies Adviser

DB RREEF

Trust

Managed in Partnership with Deutsche Bank $\boxtimes$

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 9249 9500 Direct 61 2 9249 9474 Facsimile 61 2 9249 9220

$Fmail:$ victor.hoogantink@dbrreef.com

5 October 2004

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

Dear Sir / Madam

Subject: DB RREEF Trust (ASX: DRT) - DB RREEF Operations Trust

We refer to ASX's decision in relation to the application by DB RREEF Operations Trust for admission to the Official List on the Australian Stock Exchange.

As required as a condition of the official quotation under the name of DB RREEF Trust of the stapled securities comprising a unit in each of Deutsche Diversified Fund (DDF), Deutsche Office Trust (DOT), Deutsche Industrial Trust (DIT) and DB RREEF Operations Trust (DRO), DB RREEF Funds Management Limited (DRFM) provides the following information for release to the market:

• an indicative distribution schedule of the number of stapled security holders in the form contained in appendix 1A, paragraph 48 as set out in schedule 1;
• an indicative statement setting out the names of the 20 largest holders of stapled securities, $\bullet$ including the number and percentage of stapled securities to be held by those holders, as set out in schedule 2;
• ASX reserves the right (but without limiting its absolute discretion) to remove DRO, DIT, DOT or DDF or all four from the Official List if any of the units in DRO, DIT, DOT and DDF cease to be "stapled" together or any equity securities are issued by DRO, DIT, DOT and DDF which are not stapled to equivalent securities in the other entities; and
• the date for allotting stapled securities and despatch of holding statements to applicants is 19 October 2004.

For further information, please contact Victor Hoog Antink on +61 2 9249 9474 or for media inquiries Ainsley Gee on +61 2 9249 9904.

Yours sincerely

lan Thompson Company Secretary

Schedule 1

Indicative Distribution Schedule of the Number of Stapled Security Holders as at 30 September 2004

Ranges	DRT Investors *	DRT Securities *	% Issued Capital *
1 to 1,000	1.705	1.023.433	0.04%
1,001 to 5,000	7,287	28,088,434	1.09%
5,001 to 10,000	8,155	72.725.163	2.81%
10,000 to 100,000	12.084	317,080,559	12.27%
100,001 and Over	491	2,164,924,654	83.79%
Total	29,722	2,583,842,242	100.00%

* Please note that this table assumes that upon stapling there is no consolidation of holding accounts.

Schedule 2

Indicative Statement the Twenty Largest Holders of Stapled Security Holders as at 30 September 2004

Rank	Investor	Indicative DRT Security Balance	Indicative % DRT Issued Capital
1	WESTPAC CUSTODIAN NOMINEES LIMITED	536,777,997	20.74%
$\overline{2}$	JP MORGAN NOMINEES AUSTRALIA LIMITED	337,222,192	13.03%
3	NATIONAL NOMINEES LIMITED	208,414,121	8.05%
4	JP MORGAN NOMINEES AUSTRALIA LIMITED	205, 159, 561	7.93%
5	RBC GLOBAL SERVICES AUSTRALIA NOMINEES PTY LIMITED	110.090.811	4.25%
6	CITICORP NOMINEES PTY LIMITED	96,103,641	3.71%
7	JP MORGAN NOMINEES AUSTRALIA LIMITED	81.855.993	3.16%
8	HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED	41.536.164	1.61%
9	COGENT NOMINEES PTY LIMITED	36,142,513	1.40%
10	ANZ NOMINEES LIMITED	32.531.181	1.26%
11	COGENT NOMINEES PTY LIMITED SMP ACCOUNTS >	26.804.029	1.04%
12	CITICORP NOMINEES PTY LIMITED <cfs wslePROPERTY SECS A/C>	25,567,157	0.99%
13	WESTPAC FINANCIAL SERVICES LIMITED	22,095,453	0.85%
14	TOWER TRUST LIMITED	16,793,006	0.65%
15	TRANSPORT ACCIDENT COMMISSION	16,621,752	0.64%
16	QUESTOR FINANCIAL SERVICES LIMITED <tps rfA/C	15,640,623	0.60%
17	AMP LIFE LIMITED	15,586,305	0.60%
18	VICTORIAN WORKCOVER AUTHORITY	15,160,238	0.59%
19	BOND STREET CUSTODIANS LIMITED ∉NH PROPERTY SECURITIES A/C>	15,129,722	0.58%
20	NATIONAL NOMINEES LIMITED	14,779,557	0.57%
	Total Top 20	1,870,012,017	72.26%

* Please note that this table assumes that upon stapling there is no consolidation of issuer sponsored holding accounts.