PEET LIMITED — Capital/Financing Update 2009

Nov 3, 2009

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Perth Level 7, 200 St Georges Terrace Perth WA 6000 Telephone (08) 9420 1111 | Facsimile (08) 9481 4712 Email perth@peet.com.au

www.peet.com.au

4 November 2009

$22 million Peet Kingsford Syndicate closes oversubscribed

Peet Limited’s latest land syndicate has closed oversubscribed with investors applying for more than 22 million units.

Peet Limited Managing Director and Chief Executive Officer, Brendan Gore, said the success of the Peet Point Cook Kingsford Syndicate (Kingsford Syndicate) capital raising was encouraging evidence of an expanding Peet investor base.

"Such strong support in a very challenging market shows our strategy to build on our existing investor base, in terms of numbers and geographical spread, is working very effectively," he said.

"Subscriptions from new Peet investors accounted for more than 40 per cent of the total capital raised, and East Coast subscribers make up more than 35 per cent of all Kingsford Syndicate investors."

Peet is Australia’s largest and most experienced residential land syndicator and the Kingsford Syndicate will be the 29th syndicated project currently under its management.

The Kingsford Syndicate will develop a residential community in Point Cook, an established suburb of Melbourne, some 25 kilometres south-west of the CBD. The property is already zoned for residential development and planning for a 567-lot residential estate is well underway.

“Development of the Kingsford property is progressing well and in line with the timeframes in the Product Disclosure Statement, with construction of Stage 1 expected to commence in March 2010.

“Peet remains confident in the fundamentals of the residential property market in Australia – and it’s pleasing to see so many new and existing investors sharing this positive outlook,” said Mr Gore.

“We look forward to delivering a high-quality residential development at Kingsford, demonstrating best practice in planning and sustainability, and providing excellent returns to our investors in the years to come,” he added.

For investor inquiries, call:

Brendan Gore Managing Director and Chief Executive Officer Peet Limited (08) 9420 1111

For media inquiries, call:

Marie Mills Mills Wilson Communication Consultants 08 9228 1999, 0418 918 202 mariem@millswilson.com.au

Perth | Melbourne | Brisbane Enriching lives since 1895 | Asset Manager | Land Syndicator | Fund Manager Peet Limited | ACN 008 665 834 | Australian Financial Services Licence 225772 | Licensed Real Estate Agent in WA