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GPT GROUP M&A Activity 2003

Oct 23, 2003

65009_rns_2003-10-23_992d4987-75c3-4ea6-8cb6-252d0bb5e788.pdf

M&A Activity

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General Property Trust & Voyages Hotels and Resorts ASX Announcement

RESPONSE TO REVISED 21st CENTURY OFFER FOR HAMILTON ISLAND LIMITED

24 October 2003

General Property Trust (GPT) announces that GPT and Voyages Hotels & Resorts Pty Limited (Voyages) will examine the full terms of the revised offer from 21^st Century for Hamilton Island Limited (HAM). GPT and Voyages will consider their options and advise HAM shareholders as to their intentions. In the meantime, it is recommended that HAM shareholders take no action.

ENDS