DEXUS — Capital/Financing Update 2009

Sep 28, 2009

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29 September 2009

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

DEXUS Funds Management Limited ABN 24 060 920 783 AFSL: 238163 Level 9, 343 George Street Sydney NSW 2000 PO Box R1822 Royal Exchange NSW 1225 Telephone 02 9017 1100 Direct 03 8611 2930 Facsimile 03 8611 2910

Email: karol.oreilly@dexus.com

NOT FOR RELEASE OR DISTRIBUTION INTO THE UNITED STATES

Dear Sir / Madam

– DEXUS Property Group (ASX: DXS) US$300 million note issue

DEXUS Funds Management Limited, as responsible entity for DEXUS Property Group (DXS), today priced its inaugural US$300 million debt issue in the United States 144A bond market.

The fixed rate senior unsecured notes were issued with a coupon of 7.125% for a tenor of 5 years. The Notes were priced at 99.582% of the principal amount. Proceeds of the issue will be used to pay down the Group’s existing borrowings.

DEXUS Chief Executive Officer, Victor Hoog Antink commented: “Issuance into the US 144A market opens up a new source of capital, broadening our investor base and giving us increased access to long dated funding”.

The earnings impact of this debt issue is in line with our expectations. Accordingly, our previously advised funds from operations guidance of 7.3 cents per security with distributions of 5.1 cents per security for the year ending 30 June 2010 remains unchanged.

For further information, please contact:

Investor Relations: Karol O’Reilly (03) 8611 2930 Media Relations: Emma Parry (02) 9017 1133

Yours sincerely

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John Easy Company Secretary

The securities referenced above will not be registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements