Estimated Final Distribution from the Thakral Holdings Trust

Estimated Final Distribution from the Thakral Holdings Trust

21-Jun-2005

We advise details of the estimated final distribution from the Thakral Holdings Trust (THT) for the year ending 30 June 2005 are as follows:

a) The estimated final distribution is 3.75 cents per stapled security making total distributions from THT for the year of 6.25 cents.

b) Record Date for determining entitlements: midnight on 30 June 2005;

c) THG securities will trade on “ex-distribution” basis from 24 June 2005;

d) Payment Date will be 23 September 2005.

The announcement of the full year end financial results including confirmation of the THT distribution is expected to be made on Friday 19 August 2005.

The Group’s properties are currently being valued and the directors anticipate this will result in an improvement to property values of approximately $75 million.

Please provide us with your confirmation of release announcement.

Yours faithfully



Andrew Horne
Group Company Secretary

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