DEXUS — Capital/Financing Update 2009

May 24, 2009

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25 May 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

Dear Sir/Madam

DEXUS Property Group (ASX: DXS) Retail Entitlement Offer Update

DEXUS Funds Management Limited, as responsible entity of DEXUS Property Group, announces the completion of the Retail Entitlement Offer which closed on 20 May 2009.

The $749 million fully underwritten Equity Raising announced to the market on 21 April 2009 comprised an institutional component which raised approximately $658 million and a Retail Entitlement Offer of approximately $91 million.

Eligible Retail Securityholders subscribed for 54% of the Retail Entitlement Offer, including applications for additional securities in excess of Entitlements which will be allotted in full.

The amount by which the Retail Entitlement Offer was not subscribed by Eligible Retail Securityholders was 64,367,861 securities or approximately $42 million.

As the Equity Raising is fully underwritten, the total amount that will be raised under the Retail Entitlement Offer remains approximately $91 million.

Final Allotment under the Retail Entitlement Offer is expected to occur on 27 May 2009 with trading in new stapled securities expected to commence on 28 May 2009.

For further information, please contact:

Investor Relations: Media Relations:

Karol O’Reilly (03) 8611 2930 Susan Attwood (02) 9017 1136

Yours sincerely

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John Easy Company Secretary

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