INGENIA COMMUNITIES GROUP — Major Shareholding Notification 2006

Jul 25, 2006

FACSIMILE

$\boldsymbol{I}$ Deutsche Bank

To	Company Secretary ING Real Estate Community Living Fund c/-ING Management Limited	Deutsche Bank AG ABN 13 064 165 162 GPO Box 7033 Sydney NSW 1170 Level 16, Corner Of Hunter & Phillip Street Sydney NSW 2000 Australia
Fax No	$(02)$ 9033 1059	Tel: 61 2 8258 1234
СC	Company Announcements Office Australian Stock Exchange	Fax: 61 2 8258 2223 Direct: 61 2 8258 2925
	(via ASX Online or fax 1900 999 279)
From	Leanne Mok
Date	26 July 2006
Subject	Substantial Holding Notice
Total Pages	5 (including this page)

If you do not receive all the pages, please telephone immediately.

This facsimile is intended only for the individual or entity named above and may contain information that is confidential and privileged. If you are not the intended recipient you must not use, distribute or copy this facsimile. If you have received this facsimile in error, please notify us immediately by telephone and destroy the original. Thank you.

Please find attached a copy of the Substantial Holding Notice we have lodged today with the ASX. The originals were posted to you today.

Leanne Mok Compliance Officer

Form 604 Corporations Act Section 671B

Notice of change of interests of substantial holder

To:	ING Real Estate Community Living Fund c/- ING Management Limited Level 6 345 George Street NSW 2000
ARSN	107 459 567
To:	Australian Stock Exchange Limited
4. Putatla af aukatantial stranskafslæg

1. Details of substantial shareholder

Name

Deutsche Bank AG (ABN 13 064 165 162) and its related bodies corporate (together, the "Deutsche Bank Group") gives notice of a change in its relevant interests.

There was a change in the interests of the substantial holder on 24 Jul 2006. The previous notice was dated 12 Jul 2006.

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate had a relevant interest in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities		Previous notice c.o.b. 10 Jul 2006	Present notice c.o.b. 24 Jul 2006
	Person's votes	/otina power	-Person's votes	Votina power
-Paid a Fully - .		%	.250.596	9.28%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose	Nature of	Consideration	Class and	Person's votes
	relevant interest	change	given in relation	number of
	chanded		to change	securities
Refer to	Refer to	Refer to	Refer to	Refer to	. See previous-
schedule 1	schedule 1	schedule 1	schedule 1.	-schedule 1	column.

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of	Registered holder of	Person entitled to be	Nature of	Class (Units	Person's
relevant interest	securities	registered as holder	relevant	Fully Paid	Votes
			interest	unless stated) and number of
				securities
Deutsche Asset	Citicorp Nominees	Colonial First State	As	4,895,655	4,895,655
Management	Pty Limited	Investments Limited as	investment
(Australia)		Responsible Entity for	manager
Limited and each of its		the Commonwealth Property Fund 6
holding
companies in
the Deutsche
Bank Group.	JP Morgan	FSS Trustee Corporation,		753,081	753,081
	Custodial Services	as trustee of certain
	Pty Ltd	superannuation schemes
		under the
		Superannuation Administration Act
	JP Morgan	Zurich Investment		6,699,287	6,699,287
	Nominees Australia	Management Limited as
	Limited	Responsible Entity for
	National Nominees	ZIM Unit Trusts Government Employees		2,631,473	2,631,473
	Limited	Superannuation Board as
		trustee for the
		Government Employees
		Superannuation Fund of WA
	Westpac Custodian	Deutsche Asset		11,897,640	11,897,640
	Nominees Ltd	Management (Australia) Limited as responsible
		entity of the Deutsche
		Paladin Property
		Securities Fund		66,642	66,642
	Westpac Custodian Nominees Ltd	Deutsche Asset Management as
		responsible entity for the
		Deutsche Global
	Westpac Custodian	Property Securities Fund Japan Investment Trust		1,306,818	1,306,818
	Nominees Ltd	Management Co Ltd as
		investment trust
		management company
		of the World REIT Selection (Asia) Mother
		Fund

5. Change in association

$\mathbb{N}/\mathbb{A}$

6. Addresses

Name Address Deutsche Bank Group C/- Level 16, Cnr Hunter & Phillip Streets, Sydney, New South Wales 2000

Signature

Name Fonnie Mak

Date 26 Jul 2006

Group Name	ASX	Stock	Trade Date	Trans Type	Trans.Number	Consideration
DEUTSCHE ASSET MANAGEMENT	ILF.	UNIT	12-Jul-06	S	$-25.000$	28,375.00
DEUTSCHE ASSET MANAGEMENT	ILF	UNIT	14-Jul-06	S	$-105,000$	119,175.00
DEUTSCHE ASSET MANAGEMENT	ILF.	UNIT	17-Jul-06	S	$-18,000$	20,394.00
DEUTSCHE ASSET MANAGEMENT	扎臣	UNIT	18-Jul-06	S	$-35,000$	39,725,00
DEUTSCHE ASSET MANAGEMENT	ΙLΕ	UNIT	20-Jul-06	B	9.810	$-11,183.39$
DEUTSCHE ASSET MANAGEMENT	ILF	UNIT	21-Jul-06	S	$-91.806$	103,740.78
DEUTSCHE ASSET MANAGEMENT	ILF.	UNIT	$21 -$ Jul-06	S	$-37.212$	42.049.56
DEUTSCHE ASSET MANAGEMENT	ILF	UNIT	21-Jul-06	S	-63.057	71.254.41
DEUTSCHE ASSET MANAGEMENT	ilf	UNIT	21-Jul-06	S	-7.925	8,955.25
DEUTSCHE ASSET MANAGEMENT	ILE.	UNIT	24-Jul-06	S	$-119.493$	135,027.09
DEUTSCHE ASSET MANAGEMENT	ILF	UNIT	24-Jul-06	S	$-48,434$	54,730.42
DEUTSCHE ASSET MANAGEMENT	ILF.	UNIT	24-Jul-06	Inspecie Transfer	$-2,697.095$	n/a
DEUTSCHE ASSET MANAGEMENT	ILF	UNIT	24-Jul-06	S	$-82.073$	92.742.49