GROWTHPOINT PROPERTIES AUSTRALIA — Capital/Financing Update 2008

Jun 30, 2008

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ASX ANNOUNCEMENT ORCHARD INDUSTRIAL PROPERTY FUND (ASX: OIF)

1 July 2008

Distribution Reinvestment Plan

Orchard Property Limited, as Responsible Entity of the Orchard Industrial Property Fund (“OIF”), advises that the Distribution Reinvestment Plan (“DRP”) Allocation Price is $0.3476 per unit for the quarter ended 30 June 2008.

The Allocation Price of units to be issued under the DRP has been calculated by reference to the volume weighted average price of units traded on the ASX during the 10 trading days up to and including the Record Date, less a 2% discount.

Units issued under the DRP will rank equally with existing units. The DRP units will be issued on the payment date of 29 August 2008.

Further Information

Mr Matthew Kilbride Company Secretary

Orchard Industrial Property Fund

Orchard Industrial Property Fund is a publicly traded ASX listed property trust that specialises in the investment of industrial property. It currently owns interests in a diversified portfolio of 27 industrial properties throughout Australia valued at approximately $825 million.

Key features of the Fund include:

• a weighted average lease expiry of approximately 11 years (as at 30 June 2008), significantly above the industry average;

• a domestic portfolio of quality properties leased and tenanted by well known Australian companies – including major tenant Woolworths Limited (60% of rent); and

• a pre-bank margin interest rate hedging profile with an average duration of 4.6 years.

Orchard Funds Management

Orchard’s core business is property funds management, with over $3.5 billion in funds under management (as at May 2008).

Overall, Orchard’s objective is to deliver investment solutions that offer attractive returns, tax effectiveness, portfolio stabilisation and capital growth to investors. To achieve this, the organisation couples innovation with reasoned and measured management.

With its range of diversified and sector-specific funds in both traditional and non-traditional property, Orchard offers investors products which play a clear role within individual investment strategies.

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