MIRVAC GROUP — Capital/Financing Update 2008

May 8, 2008

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New Lease Accelerates 101’s Success

09 May 2008, Sydney: Mirvac’s leasing success continues with the announcement today that it has signed an agreement with the Roads and Traffic Authority of New South Wales (RTA) to lease

approximately 15,600 square metres of 101 Miller Street, North Sydney. Total lease commitments are now 32,326 sqm, representing approximately 87 per cent of the Tower’s net lettable area. The RTA lease is for eight years commencing in August 2008 across eleven low rise levels (9 to 19).

The leasing results achieved, endorse the decision to undertake the unprecedented refurbishment of 101 Miller Street, with strong enquiry and leasing commitments drawn primarily from the Sydney CBD.

Nicholas Collishaw, Mirvac Executive Director - Funds Management, said “Mirvac’s commitment to quality allowed it to offer the RTA an outstanding office space solution that will satisfy the agency’s current and future workplace needs. The Tower’s refurbishment, including its expected 5 Star ABGR, has set a standard to match and exceed occupiers’ needs for the decade ahead.”

The RTA will join other tenants at 101 Miller Street including Genworth Financial, AGL and the Commonwealth of Australia.

The largest remaining contiguous area on offer at 101 Miller Street is 3,000 sqm and with the current level of interest, it is expected there will be strong competition for the remaining space.

The refurbishment project is ahead of budget in all respects including leasing, development costs and program, which is testament to the strength of Mirvac’s integrated construction, development and strategic asset management team.

“We look forward to opening the tower in late July and showcasing the Tower’s dramatic transformation,” Mr Collishaw said.

ENDS

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For more information:

Nicholas Collishaw Executive Director, Funds Management +61 2 9080 8000

Ben James Trust Manager, Mirvac Property Trust +61 2 9080 8000

Editor’s notes:

About the reinvigoration of 101 Miller Street

Mirvac embarked on a $40 million upgrade to enhance 101 Miller Street’s premium grade status and is on track for completion in July 2008.

The state of the art refurbishment includes a complete reconfiguration of the lobby, as well as comprehensive upgrades to the large column-free office floors, premium building services and amenities.

101 Miller Street’s introduction of trigeneration by Cogent as the primary energy source will assist Mirvac in delivering a five star ABGR and building occupants with substantial ongoing energy cost savings.

About Mirvac

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.

About the Roads and Traffic Authority

Roads and Traffic Authority is the NSW State Government agency responsible for improving road safety; testing and licensing drivers; registering and inspecting vehicles; and, managing the road network to achieve consistent travel times.

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