GPT GROUP — Capital/Financing Update 2009

Jul 29, 2009

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GPT Response to AFR Article

30 July 2009

In response to the article in today’s Australian Financial Review, GPT confirms that it is reviewing a range of options with respect to its interest in its Joint Venture (JV) with Babcock & Brown. These options include the potential for an in-specie distribution to Securityholders of that interest.

When a decision has been made in relation to any of the options under review, a further announcement will be made to the market.

As previously advised in the documentation supporting the Group’s recent capital raising, GPT expects that the value of its interest in the JV is unlikely to have any material value in the future.

Ends

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