Australand

Australand Property Group was established in November 2003 through the stapling of units in Australand Property Trust to the ordinary shares in Australand Holdings Limited to form Australand Property Group stapled securities. Australand Property Group now owns income producing properties with an aggregate value of approximately $600 million and manages Australand Wholesale Property Trust No.4 and Australand Wholesale Property Trust No.5 which will hold income producing properties with an aggregate completed value of approximately $370 million.

Australand Property Trust acquired Australand Wholesale Property Trust and Australand Wholesale Property Trust No. 2 in December 2003 and Australand Wholesale Property Trust No. 3 in May 2004.

Some of Australand Property Group’s controlled entities have been involved in property development for approximately 80 years and Australand Property Group has progressively widened the scope of its activities to satisfy the needs of an ever changing and more sophisticated client base.

Australand Property Group has four operating divisions being Land and Housing, Apartments, Commercial and Industrial and Investment Property. It employs some 650 people with operations in Sydney, Melbourne, South East Queensland and Perth and a sales office in Hong Kong servicing the Asian market.

Australand Property Group stapled securities are listed on the Australian and Singapore Exchanges following its float in June 1997. As at February 2005, Australand Property Group has approximately 9,500 securityholders, with a market capitalisation in excess of $1.5 billion. Its major securityholder is the Singapore based property group, CapitaLand Limited, with approximately 54% of the issued capital.