GPT GROUP — Regulatory Filings 2005

Jun 2, 2005

GPT Management Holdings Limited
ABN 67 113 510 188

Level 52 MLC Centre
19 - 29 Martin Place o – ∠∍ martin Place
Sydney NSW 2000
Australia

GPT Unitholder Service Cent
1800 025 095re Freecall

www.got.com.au

2 June 2005

Andrew Black Australian Stock Exchange Limited Level 6, 20 Bridge Street Sydney NSW 2000

Dear Andrew

Stapling of the General Property Trust and GPT Management Holdings Limited

The unitholders of the General Property Trust (the Trust) voted at today's meeting to approve the stapling of the units in the Trust to shares in GPT Management Holdings Limited (the Company). Set out below is an indicative distribution schedule of the likely numbers of stapled security holders in each of the following classes:

$1 - 1,000:5.765$

$1,001 - 5,001 : 23,925$

$5,001 - 10,000 : 10,716$ $10,001 - 100,000 : 6,733$

100,001 and over: 203

The record date for determining the unitholders in the Trust who will receive stapled securities is expected to be 9 June 2005. The shares in the Company are expected to be allotted on 10 June 2005.

The Australian Stock Exchange Limited (ASX) has set the date of 17 June 2005 for the dispatch of:

• $(a)$ in relation to all holdings on the CHESS sub-register, a notice from the Company under ASTC Settlement Rule 8.9.1:
• $(b)$ in relation to all other holdings, issuer sponsored holdings statements.

The ASX reserves the right (but without limiting its absolute discretion) to remove the Trust or the Company or both from the official list if any of the shares in the Company and the units in the Trust cease to be "stapled" together or any equity securities are issued by the Company or Trust which are not stapled to equivalent securities in the other entity.

Yours sincerely

$\rightarrow$

James Covne

Company Secretary GPT Management Holdings Limited