Sale of Airport Central Coolangatta

Sale of Airport Central Coolangatta

24-Feb-2005

We announce that the Group now has an unconditional contract for the sale of the Airport Central retail and office complex at Coolangatta for a sale price of $13 million to C & P Properties Pty Limited.

This sale forms part of our stated objective of trading assets when an appropriate opportunity presents itself. The sale represents a profit over book value of approximately $5.5 million.

For further information please contact John Hudson, Managing Director on (02) 9272 8888.

Please provide us with your confirmation of release announcement.


Yours faithfully



Andrew Horne
Group Company Secretary

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