INGENIA COMMUNITIES GROUP — Capital/Financing Update 2007

Apr 25, 2007

ASX Announcement ING Real Estate Community Living Group $("ILF")$

26 April 2007

ILF successfully completes Institutional Entitlement Offer

ING Management Limited, the Responsible Entity of the ING Real Estate Community Living Group ("ILF") today announced the successful completion of the Institutional component of the one for 2.791 Entitlement Offer ("the Offer"), raising approximately A\$104 million.

The units were issued to institutional investors at \$1.34 per unit and proceeds will be used to fund the acquisition of a 50% interest in a portfolio of eight Long Term Care facilities in Toronto, the acquisition of three retirement villages in Western Australia and one retirement village in Queensland and a further investment in the Fund's US Joint Venture with Chartwell Seniors Housing REIT, as announced to the market on 23 April 2007. Allocation and quotation of New Units is expected to occur on 14 May 2007.

The balance of the Offer will comprise the Retail Entitlement Offer and the Public Offer, which will raise a further A\$51 million. Further details on the Offer are provided in the Product Disclosure Statement that will be mailed to Existing Unitholders on or around 3 May 2007.

Ian Muir Chief Executive Officer ING Real Estate Community Living Group $T: +61290331019$

About ING Real Estate Community Living Group

ING Real Estate Community Living Group is a publicly traded property trust (REIT) on the Australian Securities Exchange which invests in seniors and student housing in Australia, Canada, New Zealand and the United States and has total assets in excess of approximately A\$1.2 billion. The portfolio consists of a 63% weighting to the United States, 23% to Australia, 12% to Canada and 2% to New Zealand.

About ING Real Estate

ING Real Estate is a global real estate company, active in real estate investment management, development and finance. With a total business portfolio of over A\$150 billion and offices in 21 countries in Europe, America, Asia and Australia, ING Real Estate ranks among the world's largest real estate companics. ING Real Estate is part of ING Group, a global financial institution of Dutch origin offering banking, insurance and asset management to over 60 million private, corporate and institutional clients in more than 50 countries.