DEXUS — Capital/Financing Update 2009

Dec 9, 2009

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10 December 2009

DEXUS Property Group (ASX: DXS) announces acquisition of 2-4 Military Road, Matraville NSW

DEXUS Property Group today announced the acquisition of 2-4 Military Road, Matraville NSW for $46.1 million, with an initial passing yield of 9.3% (8.8% after costs) and weighted average lease expiry of 5.7 years.

The property which comprises two modern fully leased industrial warehouses with 30,000sqm of Net Lettable Area is located in the key South Sydney industrial precinct, adjacent to Port Botany and close to Sydney Airport.

Andrew Whiteside, Head of Industrial commented: “The acquisition of this property further diversifies and expands our industrial portfolio into another key Sydney market and is consistent with our strategy to invest in quality properties in key locations.

The acquisition of this quality asset at less than replacement cost represents excellent value and offers future repositioning potential with associated value upside, at the right time in the cycle. This acquisition is consistent with our active repositioning of the portfolio to drive further value for our investors and deliver quality products for our tenants.”

The DEXUS industrial portfolio is the third largest in Australia with $1.5 billion under management, predominantly located in Sydney and Melbourne in institutional grade assets - warehouse, industrial estates and logistics/distribution facilities.

Specific details and images regarding the property are outlined in Attachment A.

For further information contact:

Media Relations Investor Relations: Emma Parry (02) 9017 1133/0421 000 329 Daniel Rubinstein (02) 9017 1336/0466 016 725 Susan Attwood (02) 9017 1136/0434 561 249 Karol O’Reilly (03) 8611 2930/0405 134 856

About DEXUS

DEXUS is one of Australia’s leading diversified property groups specialising in world-class office, industrial and retail properties with total assets under management of $13.5 billion in Australia, New Zealand, North America and Europe. In Australia, DEXUS is the number 1 owner/manager of office, number 3 in industrial and 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 as one of the Global 100 Most Sustainable Corporations at the World Economic Forum in Davos and recently achieved listing on the DJSI World and Asia Pacific Indexes.

DEXUS Funds Management Ltd ABN 24 060 920 783, AFSL 238163, as responsible entity for DEXUS Property Group (ASX: DXS) www.dexus.com

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Attachment A: Property Synopsis Information for 2-4 Military Road, Matraville, NSW

Building Type Distribution Centre Title Freehold Ownership 100% Zoning Industrial Year built 2000 Site area 5.4 hectares Lettable area 30,154 m[2] Site coverage 55.9% Number of buildings 2 Office content 22% Car parking spaces 384 Acquisition date 9 December 2009 Purchase price A$46.1m Average passing rent A$142/m[2] Initial passing yield 9.3% Major tenant 1 Salmat 60.5% Major tenant 2 Agility 39.5% Leased by area 100% Weighted lease term by income 5.7 years FY 2013 60.5% FY 2019+ 39.5%

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Aerial view of 2-4 Military Road, Matraville

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Site location map

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