GPT GROUP — Major Shareholding Notification 2005

Sep 28, 2005

29 September 2005

Westfield Group

Level 24, Westfield Towers 100 William Street Sydney NSW 2011 GPO Box 4004 Sydney NSW 2001 Australia

Telephone 02 9358 7000 Facsimile 02 9358 7077 Internet www.westfield.com

The Manager Company Announcements Office Australian Stock Exchange Limited Level 4, Exchange Centre 20 Bridge Street SYDNEY NSW 2000

Dear Sir/Madam

SALE OF GPT GROUP SECURITIES BY WESTFIELD GROUP (ASX:WDC)

Attached is a Notice of ceasing to be a substantial holder in the GPT Group.

Yours faithfully WESTFIELD GROUP

Simon Tuxen Company Secretary

Westfield Holdings Limited ABN 66 001 671 496

Westfield Management Limited ABN 41 001 670 579 AFS Licence 230329 as responsible entity for Westfield Trust ABN 55 191 750 378 ARSN 090 849 746

Form 605

Corporations Act 2001 Section 671B

Notice of ceasing to be a substantial holder

To Company Name/Scheme	General Property Trust
ACN/ARSN	ARSN 090 110 357
Name	1. Details of substantial holder(1) Westfield Group (comprising Westfield Holdings Limited [ABN 66 001 671 496], Westfield Management Limited [ABN 41 001 670 579] as responsible entity of Westfield Trust (ARSN 090 849 746] and Westfield America Management Limited [ABN 66 072 780 619] as responsible entity of Westfield America Trust [ARSN 092 058 449] and the entities listed in Annexure A)
ACN/ARSN (if applicable)	Refer to above
The holder ceased to be a substantial holder on	28,09,2005
The previous notice was given to the company on	22,11,2005

2. Changes in relevant interests

The previous notice was dated

The previous notice was given to the company on

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting securities of the company or scheme, since the
substantial holder was last required

22,11,2005

Date of change	Person whose relevant interest changed	Naure of change (4)	Consideration given in relation to change(5)	Class (6) and number of securities affected	Person's votes affected
Refer Annex- ure B	Westheld Manadement Ltd as r/e of Westfield Trust	Refer Annexure B	i Refer Annexure B	Refer Annex- ure B	Refer Annexure B
TRafer Annex- ure B	Westfield Holdings Ltd	Refer Annexure B	Refer Annexure B	Reter Annex- ure B	. Refer Annexure B

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

THE MEMORIAL AND REALLY Name and ACN/ARSN (If applicable)	-------------------------------------- $-0.111$ Nature of association
---- ≺efer 'Annexure C	Members of the Westfield Group . Press Arrest Line
THE R. P. LEWIS CO., LANSING, MICH.	--------------------------------------

4. Addresses

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

Name	Address
	Westfield Management Ltd as r/e of Westfield Trust - c/- Level 24, Westfield Towers, 100 William Street, Sydney NSW 2011
Each of the entities listed in Annexure A	c/- Level 24, Westfield Towers, 100 William Street, Sydney NSW 2011

Signature

print name	Simon Tuxen	Company Secretary capacity
sign here		date $28$ /09 /2005

DIRECTIONS

• $(1)$ If there are a number of substantial holders with similar or related refevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 4 of the form
• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $(2)$
• $(3)$ See the definition of "associate" in section 9 of the Corporations Act 2001.
• $(4)$ Include details of:
• any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any ${a}$ document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
• ${b}$ any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• $\left( 5\right)$ Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitied to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.
• $(6)$ The voting shares of a company constitute one class unless divided into separate classes.
• $(7)$ Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

This is Annexure A of 3 pages referred to in the Form 605 Ceasing to be a substantial holder dated 28/09/05 THE WESTFIELD GROUP

Entities Incorporated in Australia

Adurant Pty Limited A.C.N. 003 155 628

• Alphen Pty Limited A.C.N. 052 136 348
• Annsa Pty Ltd A.C.N. 093 890 236
• Bobian Pty Limited A.C.N 100 435 578
• Cavemont Pty Limited A.C.N. 090 008 601
• Descon Invest Pty Limited A.C.N. 101 292 442
• Croissy Pty Ltd A.C.N. 002 863 523
• Gaural Pty Ltd A.C.N. 003 101 924
• Greissen Limited A.C.N. 003 293 534
• Lourens Pty Limited A.C.N. 076 681 797
• Lycus Pty Limited A.C.N. 002 253 161
• Marchet Limited A.C.N. 008 625 250
• Nauthiz Pty Ltd A.C.N. 003 087 661
• Orta Pty Limited A.C.N. 008 617 810
• Parliv Pty Limited A.C.N. 056 002 558
• Regional Shopping Centre Nominees Pty Limited A.C.N. 050 044 785
• Risemond Pty Limited A.C.N. 093 719 852
• Samel Pty Limited A.C.N. 008 620 586
• Titania Services Pty Ltd A.C.N. 010 746 273
• Variscite Pty Ltd A.C.N. 003 089 905
• Westfield Alliances (NZ) Pty Limited A.C.N 100 759 126
• Westfield Alliances Carindale Pty Limited A.C.N 098 563 252
• Westfield Alliances Pty Limited A.C.N 098 357 521
• Westfield America Management Limited A.C.N. 072 780 619
• Westfield American Investments Pty Limited A.C.N. 003 161 475
• Westfield Capital Assets Pty Limited A.C.N. 003 146 307
• Westfield Capital Corporation Finance Pty Limited A.C.N. 003 077 816
• Westfield Capital Corporation Limited A.C.N. 008 589 384
• Westfield Capital Financial Services Limited A.C.N. 008 618 166
• Westfield Custodian Pty Limited A.C.N. 098 698 652
• Westfield Design and Construction Pty Limited A.C.N. 000 267 265
• Westfield Developments Pty Ltd A.C.N. 001 134 676
• Westfield European Investments Pty Ltd A.C.N. 003 727 651
• Westfield Finance (Aust) Limited A.C.N. 093 642 865
• Westfield Funds Management Limited A.C.N. 003 613 410

Westfield Gift Cards Pty Limited A.C.N. 113 171 663 Westfield Holdings Limited A.C.N. 001 671 496 Westfield Internet Shoppingtown Pty Limited A.C.N. 078 618 201 Westfield Limited A.C.N. 000 317 279 Westfield Management Limited A.C.N. 001 670 579 Westfield No. 1 Pty Limited A.C.N. 098 357 558 Westfield No. 4 Pty Limited A.C.N. 100 458 437 Westfield (Parramatta) Pty Limited A.C.N. 000 856 682 Westfield Projects (Australia) Limited A.C.N. 008 598 409 Westfield Promotion Fund Management Pty Ltd A.C.N. 011 047 215 Westfield Queensland Pty Limited A.C.N. 004 855 878 Westfield R.S.C.F. Management Limited A.C.N. 050 054 245 Westfield Services Pty Limited A.C.N. 002 861 690 Westfield Shopping Centre Management Co Pty Limited A.C.N. 000 712 710 Westfield Shopping Centre Management Co (A.C.T.) Pty Limited A.C.N. 008 612 002 Westfield Shopping Centre Management Co (Qld.) Pty Limited A.C.N. 010 310 059 Westfield Shopping Centre Management Co (S.A.) Pty Ltd A.C.N. 008 139 580 Westfield Shopping Centre Management Co (Vic.) Pty Limited A.C.N. 007 280 908 Westfield Shoppingtown Carousel Pty Ltd A.C.N. 060 037 621 Westfield U.S. Investments Pty Limited A.C.N. 062 325 786 WestUS Pty Limited A.C.N. 008 588 458 Woodfield Pty Ltd A.C.N. 001 134 685 WRS Pty Ltd A.C.N. 070 100 793 Zed Investments Pty Limited A.C.N. 003 713 362

Entities Incorporated in the United Kingdom

Westfield Shoppingtowns Limited Westfield UK General Partner Limited Westfield UK (Nominee) Limited Westfield Wholesale General Partner Limited Westfield Wholesale (Nominee) Limited

Entities Incorporated in Jersey

Westfield Management Jersey Limited Westfield Management Jersey (Nominee) Limited

Entities Incorporated in Ireland

Westfield Europe Finance plc

Entities Incorporated in the United States

WCMI (Texas), Inc. Westfield Benefit, Inc. Westfield Concession Management, Inc. Westfield Corporation, Inc. Westfield Gift Card Management, Inc. Westfield Project Management Corporation, Inc. Westfield Services, Inc. Westfield Management Acquisition, Inc. Westfield Europe LLC

Entities Incorporated in New Zealand

Westfield Properties (New Zealand) Limited Westfield Leasing (N.Z.) Limited Westfield Shopping Centre Management Co (N.Z.) Limited Westfield (New Zealand) Limited Westfield Finance (NZ) Limited

Entities Incorporated in Malaysia

Westasia Malls Sdn Bhd Westfield Shoppingtowns Corporation Sdn Bhd

Entities Incorporated in Luxembourg

Darmor SA

Entities Incorporated in Singapore WRMS Pte Ltd

Date	Description of Transaction	Units	Average Price	Gross Value	No of votes affected
5/09/2005	On-market sale	1,000,000	\$3.9711	\$3,971,100	1,000,000
6/09/2005	On-market sale	2,173,887	\$3.9668	\$8,623,375	2,173,887
7/09/2005	On-market sale	9,050,000	\$4.0001	\$36,200,905	9,050,000
8/09/2005	On-market sale	893,297	\$4.0200	\$3,591,054	893.297
13/09/2005	On-market sale	1,882,816	\$4.0162	\$7,561,766	1,882,816
14/09/2005	On-market sale	2,080,600	\$4.0431	\$8,412,074	2,080,600
15/09/2005	On-market sale	500,000	\$3.9900	\$1,995,000	500,000
16/09/2005	On-market sale	208,702	\$4,0000	\$834,808	208,702
27/09/2005	On-market sale	562,388	\$4.0469	\$2,275,928	562,388
28/09/2005	Sale by underwritten book build	113,403,950	\$3.9200	\$444,543,484	113,403,950

This is Annexure B of 1 page referred to in the Form 605 Ceasing to be a Substantial Holder dated 28/09/05

Total

131,755,640

518,009,494 131,755,640

This is Annexure C of 1 page referred to in the Form 605 Ceasing to be a Substantial Holder dated 28/09/05

Changes in Association

Entities becoming associates of the substantial holder since the lodgement of the Notice of Initial Substantial Holder on 22 November 2004:

Westfield Gift Cards Pty Limited A.C.N. 113 171 663 Westfield Europe Finance plc (incorporated in the Republic of Ireland)

Entities ceasing to be associates of the substantial holder since the lodgement of the Notice of Initial Substantial Holder on 22 November 2004:

Nil

Entities changing their nature of association with the substantial holder since the lodgement of the Notice of Initial Substantial Holder on 22 November 2004:

Nil