GPT GROUP — Notice of Dividend Amount 2003

Apr 29, 2003

General Property Trust Stock Exchange Announcement for the quarter ended 31 March 2003

30 April 2003

GENERAL PROPERTY TRUST - March Quarter Distribution

GPT Management Limited, the responsible entity of General Property Trust, announces the following distribution for the quarter ended 31 March 2003.

Distribution - Ordinary Units $(a)$

A distribution for the three months ended 31 March 2003 of 5.2 cents per General Property Trust unit will be paid by the Trust on 23 May 2003 (the distribution for the three months ended 31 March 2002 was 5.0 cents per unit and the distribution for the three months ended 31 December 2002 was 5.2 cents per unit).

$(b)$ Income Tax Deferred Component - Ordinary Units

The distribution advice for the March quarter will advise that 2.484448 cents is not subject to income tax in the current tax year for investors that hold their investment on capital account.

The income tax deferred component will reduce the cost base (or indexed base) in the case of units liable to capital gains tax on disposal.

$(c)$ Books Closing Date

In accordance with Listing Rule 3A(5), we give formal notice that the register of unitholders of General Property Trust will close at 5.00pm, 9 May 2003 for the purpose of determining those unitholders entitled to participate in the distribution for the quarter ended 31 March 2003, payable on 23 May 2003.

Documents will be accepted for registration until 5.00 pm on the books closing date at the Sydney Register only:

Securities Registration Services ASX Perpetual Registrars Limited Level 8, 580 George Street SYDNEY NSW 2000