MIRVAC GROUP — Capital/Financing Update 2008

Jul 9, 2008

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10 July 2008

DISTRIBUTION REINVESTMENT PLAN – FURTHER INFORMATION

Mirvac Group [ASX:- MGR] advises that the issue price of its stapled securities to be allotted under the Distribution Reinvestment Plan (DRP) in respect of the distribution to be paid on Friday 25 July 2008 is $2.6188 per security. This price includes the 2% discount as previously notified on 18 June 2008.

As previously advised, J.P. Morgan Australia Limited has fully underwritten this DRP. Further, J.P. Morgan has been successful in securing Mirvac's largest securityholder, Nakheel, in subwriting the majority of the shortfall under this DRP.

The proceeds of the DRP will be used to pay down Mirvac’s floating rate debt.

For more information, please contact:

Adam Crowe Investor Relations Manager Tel +61 2 9080 8652

Mirvac is a leading ASX-listed, integrated real estate group with approximately $28 billion of activities under control across the real estate funds management and development spectrum.

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