GPT GROUP — Major Shareholding Notification 2003

Aug 20, 2003

FACSIMILE

Telephone +612 9272 2378 Facsimile +612 9278 5378 elaine.cheung@barclaysglobal.com

PERFORMANCE THEOUGH INNOVATION

BARCLAYS GLOBAL INVESTORS

To:	Company Secretary GPT Management Limited Fax: 02 9236 6020
Cc.	ASX Company Announcements Fax: 1900 999 279
Total pages:	4 incl.
Date:	21 August 2003
Subjact:	Notica of initial substantial holder

Barclays Global Investors Australia Limited ABN 33 001 804 566

AFS Licence No. 225398

Level 1, 111 Harrington Street, Sydney NSW 2000 P.O. Box N43 Grosvenor Place, NSW 1220

The information contained in this facsimile is intended anly for the use of the recipient named above. This facsimile may contain privileged, contidential or underdosed
information, if the reader of this facsimile is not t

Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

General Property Trust To ACN/ARSN 090 110 357

1. Details of substantial holder

Name Barclays Group ("Barclays") 33 001 804 566 Barclays Global Investors Australia Limited ABN

The holder became a substantial holder on 16/7/03.

2. Details of voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder an associate had a relevant interest on the date the substantial holder became a substantial holder are as follows:

┯┯┯ Class of securities	Person's votes Number of securities		Voting power
. Ordinary	'04.662.625	'04,662,625 ——	5.37%

3. Details of relevant Interests

The nature of the relevant interest the substantial holder had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant Interest	Class and number of
		securities
Borclays	' Fund Manager - see Annexure A j	104,662,625 ordinary

4. Details of present registered holders

The persons registered as holder of the securities referred to in paragraph 3 above are as follows:

Holder of relevant interest	Registered holder of securities	Class and number of
		securities
Barclays	. JP Morgan & other custodians - see Annexure A	104,662,625 ordinary

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant.	Date of acquisition	Consideration	Class and number of
Interest		Cash/Non-cash	securitles
Barclays	Past 4 months	Avg price \$2.96	104.662.625 ordinary

6. Addresses

The addresses of persons named in this form are as follows:

Nome .	Address
Barclays Global Investors	1/111 Harrington Street, Sydney NSW 2000
Australia Limited

Signature

Glohon

$21/8/03$

Christopher Robson Company Secretary Barclays Global Investors Australia

Date

$\bar{z}$

This is "Annexure A" of 1 page referred to in Form 603 Notice of initial substantial holder

Relevant interest in General Property Trust held by the Barclays Group ("Barclays").

The list of Barclays entities and their respective holdings are as follows:

ASX			ж,
CODE	STOCK NAME	HOLDING		ICOMPANY
GPT	General Property Trust	2,095,977 0.1075		Barclays Global Investors Japan Trust & Banking
GPT	General Property Trust		100.175 0.0051	Barclays Nikko Global Investors Ltd
GPT	General Property Trust	2,509,796 0.1287		Barclays Capital Securities Ltd
GPT	General Property Trust	62.686.096 3.2151		Barclays Global Investors Australia Ltd
GPT	General Property Trust	14,193,713 0.7280		Barclays Global Investors Ltd
GPT	General Property Trust	21,551,444	1.1054	Barclays Global Investors, N.A.
GPT	General Property Trust	774.464	0.0397	Barclays Ute Assurance Co Ltd
GPT	General Property Trust	750,960	0.0385	Barclays Global Fund Advisors
		104,662,625 5,3680

The JP Morgan Chase Bank Inc. and various other custodians (Custodians) hold shares in General Property Trust (GPT) as custodian and for which Barclays is either:

• $\blacksquare$ the responsible entity or trustee of pooled investment products such as registered managed investment schemes (Funds); or
• the investment manager of Portfolios held for a number of institutional investors. The Institutional investors are generally superannuation funds regulated under the Superannuation Industry Supervision Act 1993.

The holding of shares in GPT was acquired as part of the wide portfollo of Australian shares and units acquired for the Funds and the Portfolios.

Barclays and the Custodians may hold relevant interests due to the capacity of these entities to dispose of the shares in GPT.

Each investor in a Fund owns an undivided interest in the Fund's assets, no client directly owns any asset of the Fund. The unitholding of each Fund varies from time to time as clients enter and withdraw from the Funds. The various institutional investors with portfolios delegate the management of the portfolios to Barclays.

21/8/03

Christopher Robson Company Secretary Barclays Global Investors Australia