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GPT GROUP Capital/Financing Update 2003

Feb 6, 2003

65009_rns_2003-02-06_97c3f97b-6f8a-47db-b899-677f665e22b9.pdf

Capital/Financing Update

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General Property Trust

7 February 2003

GPT CONFIRMS EXCLUSIVITY ON HAMILTON ISLAND

GPT today confirmed the Trust, together with Voyages Hotels & Resorts Pty Ltd (the operator of GPT's Ayers Rock Resort), had entered into exclusive negotiations to acquire Hamilton Island.

Negotiations are ongoing and a further announcement on the transaction is expected in March.

ENDS