INGENIA COMMUNITIES GROUP — Capital/Financing Update 2009

Dec 14, 2009

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ASX ANNOUNCEMENT ING REAL ESTATE COMMUNITY LIVING GROUP (ILF) 15 December 2009

ILF ANNOUNCES UPDATE ON DEBT REFINANCING

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ING Real Estate Community Living Group (“ILF”) is pleased to announce that an agreement has been reached with its Australian lender on a three month facility extension on market commercial terms for the Fund’s Australian debt facility that was due to expire on 22 December 2009.

ILF Chief Executive Officer, Simon Owen, said “This extension enables ILF to finalise the sale of the Meridian and Regency portfolios and use the net proceeds to negotiate improved terms for a new three year facility”.

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For further information, please contact:

Simon Owen Johanna Keating Chief Executive Officer Head of Investor Relations & Marketing ING Real Estate Community Living Group ING Real Estate Investment Management ING Real Estate Investment Management Australia Australia T: +61 409 168 848 T: +61 2 9033 1310

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. The portfolio consists of a 64% weighting to the United States, 23% to Australia, 10% to Canada and 3% to New Zealand.

About ING Real Estate Investment Management

ING Real Estate Community Living Group is one of six property trusts managed by ING Real Estate Investment Management Australia (INGREIMA) on behalf of 60,000 investors. INGREIMA meets the needs of both institutional and retail investors through listed and unlisted Funds. The Funds operate in key real estate sectors including office, industrial, retail, seniors housing, entertainment and healthcare property. INGREIMA is part of the global ING Real Estate Investment Management platform. With over 70 Funds, offices in 21 countries and more than 1500 employees across the globe, ING Real Estate Investment Management is one of the world’s leading property investment managers.

IMPORTANT LEGAL INFORMATION

Certain of the statements contained herein are statements of future expectations and other forward-looking statements. These expectations are based on management's current views and assumptions and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those in such statements due to, among other things, (i) general economic conditions, in particular economic conditions in ING's core markets, (ii) performance of financial markets, including developing markets, (iii) changes in the availability of, and costs associated with, sources of liquidity, such as interbank funding, as well as conditions in the credit markets generally, including changes in borrower and counterparty creditworthiness, (iv) the frequency and severity of insured loss events, (v) mortality and morbidity levels and trends, (vi) persistency levels, (vii) interest rate levels, (viii) currency exchange rates (ix) general competitive factors, (x) changes in laws and regulations, (xi) changes in the policies of governments and/or regulatory authorities, (xii) conclusions with regard to purchase accounting assumptions and methodologies, (xiii) ING's ability to achieve projected operational synergies and (xiv) the implementation of ING’s restructuring plan, including the planned separation of banking and insurance operations. ING assumes no obligation to update any forward-looking information contained in this document.

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