PEET LIMITED — Capital/Financing Update 2009

Mar 26, 2009

No:

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ASX Circular

PEET LIMITED - NON-RENOUNCEABLE ACCELELERATED ENTITLEMENT OFFER

Date: 27 March, 2009

Key topics

1. Peet Limited

2. ASX Code: PPC

Participating Organisations are advised that Peet Limited (the “Company”) has announced a 1 for 3 non-renounceable entitlements offer of shares at a price of $1.10 per share to raise up to $81.5 million (the “Entitlement Offer”).

The Entitlement Offer has two components:

• An Institutional Entitlement Offer, where offers have been made to qualifying institutional securityholders for them to apply for their pro rata entitlement ( the “Institutional Entitlement Offer”); and

Reading List

Client Advisers Compliance Managers Corporate Advisory DTR Operators Issuers Institutions ASTC Participants Operations Managers (back office) Research Analysts Share Registries

ACH Participants Authorised by

Nathan Bartrop

Contact

Nathan Bartrop

Telephone

(08) 9224 0000

ASX Limited ABN 98 008 624 691 Exchange Centre 20 Bridge Street Sydney NSW 2000 PO Box H224 Australia Square NSW 1215

Internet: http://www.asx.com.au

No responsibility is accepted for any inaccuracies contained in the matter published.

• A Retail Entitlement Offer, where offers have been made to qualifying retail securityholders for them to apply for their pro rata entitlement (the “Retail Entitlement Offer”)

The Record Date for the Entitlement Offer is 1 April 2009 (7pm AEDT, 4pm AWST).

The Retail Entitlement Offer is expected to close on 30 April 2009 (7pm AEST, 5pm AWST).

The Company will ignore changes in security holdings which occur after the commencement of the trading halt on Friday, 27 March 2009 (other than registrations of transactions which were effected through ITS before the commencement of the trading halt).

New shares issued under the Institutional Entitlement Offer will not participate in the interim dividend for the period ended 31 December 2008.

The anticipated timetable in relation to the Entitlement Offer is as follows.

EventAnnouncement of offer and cleansing notice (andlodgement of Appendix 3B and rights issuedocuments)Institutional entitlement offer period opensInstitutional Entitlement Offer and InstitutionalBookbuild closesCease trading halt. Shares recommence trading	Date27 March 200927 March 200927 March 200930 March 2009 (10am AEDT,7am AWST)
Interim Dividend Record Date	30 March 2009
Record Date for Entitlement Offer	1 April 2009 (7pm AEDT, 4pmAWST)
Despatch of Entitlement & Acceptance Forms toeligible Retail shareholders	6 April 2009
Retail Entitlement Offer Opens	6 April 2009

ASX Circular

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	No:
Institutional Entitlement Offer and InstitutionalBookbuild settlementInstitutional Entitlement Offer allotment date andannounce actual numbers allottedShares issued under the Institutional Entitlement Offercommence trading on a normal basisRetail Entitlement Offer closesRetail entitlement offer shortfall notification dateSettlement of the Retail Entitlement Offer	14 April 200915 April 200915 April 200930 April 2009 (7pm AEST, 5pmAWST)5 May 20096 May 2009
Allotment of New Shares under the Retail EntitlementOffer	7 May 2009
Normal trading of New Shares issued under the RetailEntitlement Offer	8 May 2009
Despatch of holding statements	8 May 2009

Despite the fact that the shares are trading “ex entitlement” on ITS, CHESS will not recognise for settlement purposes the “ex entitlement” or the “cum entitlement” tag on CHESS messages. As a result, CHESS will not maintain cum balances in these shares within the system.

In addition, CHESS will not perform any automatic diary adjustments to “cum entitlement” settlement obligations outstanding as at the record date.

Trading Issues

ASX will not provide a "cum" market with respect to trading in the Company’s shares. Persons who trade the Company’s securities after the commencement of the trading halt on Friday, 27 March 2009 will not be entitled to participate in the Entitlement Offer.

Further Information

For further details, please refer to the Company’s announcements. Retail shareholders who have questions regarding the Retail Entitlement Offer should call the Peet Limited Entitlement Offer Shareholder Information Line on 1300 755 641 (local call cost within Australia) or +61 3 9415 4060 (from outside Australia) at any time from 8.30am to 5.30pm (AWST) Monday to Friday.

ASX Circular

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