SCENTRE GROUP TRUST 1 — Board/Management Information 2003

Dec 18, 2003

19 December 2003

Westfield Management Limited

Level 24, Westfield Towers 100 William Street Sydney NSW 2011 GPO Box 4004 Sydney NSW 2001 Australia

Telephone 61 2 9358 7000 61 2 9358 7077 Facsimile Internet westfield com

Company Announcements Office Australian Stock Exchange Limited Level 4 Exchange Centre 20 Bridge Street Sydney NSW 2000

The Manager Companies New Zealand Stock Exchange Limited Level 9 ASB Bank Tower 2 Hunter Street Wellington New Zealand

Dear Sirs

Westfield Management Limited - Appointment of Mr John Studdy AM

We advise that Mr John Studdy AM has agreed to join the Board of Westfield Management Limited with effect from 1 January 2004. Mr Studdy will also join the Audit and Compliance Committee

Mr Studdy is a director (and former Chairman) of Ten Network Holdings Limited and of Angus & Coote (Holdings) Limited. He is a former director of The Ten Group Pty Limited. Crane Group Limited and Bulmer Australia Limited. He is also an Honorary Vice President of the International Federation of MS Societies. Emeritus President of the MS Society of NSW and Chairman of the Pain Management Research Institute. In 2003, Mr Studdy was awarded the Centenary Medal for services to the media and communications. Mr Studdy has also been a member of the compliance committee since its inception in 1999.

As there is a majority of external directors (as defined in the Corporations Act) on the Board of Westfield Management Limited, the company is not required to maintain a separate compliance committee in order to comply with the requirements of the Corporations Act. With effect from 1 January 2004, the Audit and Compliance Committee will assume responsibility for the compliance functions previously carried out by the compliance committee.

Yours faithfully Westfield Management Limited Responsible Entity of Westfield Trust

Simon Tuxen Company Secretary