GPT GROUP — Capital/Financing Update 2005

Jul 3, 2005

GPT

The GPT Group ASX Announcement & Media Release

GPT COMPLETES SALE OF UNITS UNDER CASH SALE FACILITY

4 July 2005

As outlined in the Notice of Meeting and Explanatory Memorandum, following approval of the Internalisation by Stapling at the GPT unitholder meeting on 2 June 2005, a sale facility was established to cater for all foreign unitholders who were unable to receive their share component of the stapled securities as a result of specific legal requirements in their respective jurisdictions.

The units held by those foreign unitholders at 9 June 2005 were transferred to Macquarie Securities Australia Limited (Macquarie) in their role as Sale Bank and subsequently sold on market

Macquarie completed the sale of these securities (24,268,868 in total) on 30 June 2005, at an average price of \$3.6462. The cash proceeds from the sale are expected to be remitted to foreign holders participating in the facility on or around 13 July 2005.

ENDS

Enquiries

For further information please contact:

Michael O'Brien GPT +612 8239 3544 Donna Byrne GPT +612 8239 3515

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