ALE Property : Annual Review, Annual Report and Property Compendium Opens in a new Window

ANNUAL REVIEW, ANNUAL REPORT AND PROPERTY COMPENDIUM 2017

Please find attached a copy of the ALE Property Group (ALE) Annual Review 2017.

ALE will mail the Annual Review to securityholders unless they have elected not to receive one. ALE's Annual Report was released on 8th August 2017.

ALE Property Group released the following 2017 reporting materials:

• FY17 Annual Review aleproperty2017.reportonline.com.au

• FY17 Annual Report aleproperty2017.reportonline.com.au

• FY17 Property Compendium aleproperties.com.au

  ALE's website contains all the results materials alegroup.com.au

  ALE's website also two includes new videos

• FY17 results highlights including Q&A with both ALE's Chairman and Managing Director

• Tour above and through the Crows Nest Hotel, Sydney, NSW

- Ends -

Contact:

Andrew Wilkinson Managing Director ALE Property Group

02 8231 8588

Website: www.alegroup.com.au

Australian Leisure and Entertainment Property Management Limited ABN 45 105 275 278 Australian Leisure and Entertainment Property Trust ARSN 106 063 049

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ANNUAL REVIEW 2017

INCOME

GROWTH OPPORTUNITIES

CROWS NEST HOTEL SYDNEY

"The Crowie" has long been an institution on the lower North Shore of Sydney. In 2016 an $8m investment was made to completely refurbish the hotel. The new facilities now feature five new function spaces across two floors. The hotel is performing very strongly for ALH. This provides positive prospects for ALE's securityholders through rental increases at future market rent review dates.

VISIT OUR 2017 ANNUAL REVIEW WEBSITE FOR MORE INFORMATION

aleproperty2017.reportonline.com.au

CHAIRMAN'S AND MANAGING DIRECTOR'S

Q&A

"It is an honour to succeed Peter Warne as Chairman of ALE. On behalf of my fellow Directors, I acknowledge and thank Peter for his outstanding service and leadership as Chairman since ALE listed on the Australian Securities Exchange (ASX) in 2003.

Over those nearly 14 years, the accumulated value of a securityholder's original $1.00 investment, with reinvested distributions, had grown to $14.72 at

30 June 2017. Peter oversaw ALE's market capitalisation growth from

$91 million to more than $900 million today, delivering a total return of around 22% per annum. This is testament to Peter, the Board and management

team and a good relationship with a strongly performing tenant."

Robert Mactier

Rob, please tell us about your background and other corporate responsibilities?

I have a background of more than 30 years in investment banking providing capital

markets and M&A advice to corporate clients.

In addition to ALE, I am currently Chairman of ASX listed WPP AUNZ Limited and act as a consultant to the investment bank UBS AG. I previously served for ten years as a non-executive Director of NASDAQ listed Melco Resorts and Entertainment Limited.

Rob, your impressions of ALE since joining the Board and being appointed Chairman?

I was attracted to the invitation to join ALE as I considered that it had been both well governed and managed since the IPO in 2003, with a single minded focus on the generation of value for the benefit of its securityholders.

I pay tribute to Peter's outstanding Chairmanship over the 14 years since listing, a period that has seen ALE significantly outperform all sectors of the market.

Looking ahead, I believe that ALE has an opportunity to further enhance and expand its relationship with ALH to the mutual benefit of landlord and tenant.

Andrew, what were the highlights of ALE's FY17 results?

FY17 was another good year. In line with guidance, distributions increased by 2.0% to 20.40 cents per security and again they were 100% tax deferred.

The properties' valuations increased materially which made a substantial contribution to the decline in ALE's gearing to a record low.

ALE also completed a successful debt refinancing at a very competitive interest rate.