MIRVAC GROUP — Regulatory Filings 2003

Oct 15, 2003

October 16, 2003

Media and Stock Exchange Announcement

MIRVAC CMBS ISSUE CLOSES OVERSUBSCRIBED

The Mirvac Group has successfully issued two separate series of commercial mortgage-backed securities totalling \$258 million.

Final pricing for the CMBS issues - which comprise \$120 million of 5 year fixed rate notes and \$138 million of 2 year floating rate notes - saw the 5 year notes priced at an average rate of 55 basis points over swap and the 2 year notes at an average of 41 basis points over BBSW.

It is the third CMBS issue completed by Mirvac following its \$500 million issue in June 2001 and a \$190 million issue in April last year.

Mirvac Group Finance Director Mr Dennis Broit said that this programme continued Mirvac's policy of accessing the debt capital markets to reduce funding costs and increase the Group's spread of investors.

Ends.

Further Information:

Dennis Broit Mirvac Group Finance Director $(02)$ 9080 8433