Aspen Group Limited

ABN 50 004 160 927

Aspen Property Trust

ARSN 104 807 767

Level 18, 9 Hunter Street

Sydney NSW 2000

Telephone: 02 9151 7500

Facsimile: 02 9151 7599

Email: homemail@aspengroup.com.au

MARKET RELEASE ASX ANNOUNCEMENT 29 May 2015 Settlement of Adelaide City Central

Aspen Group (ASX: APZ) advises that settlement has been completed of the previously announced sale of the Adelaide City Central precinct development site in accordance with the contract terms (refer ASX announcement dated 13 March 2014 for full details).
The proceeds of sale, and return of security bonds, totalling $17 million, increase Aspen Group's
capacity to pursue investment opportunities in the accommodation sector.
In line with Aspen's strategy, the sales process has commenced for the sale of the remaining portion of the Spearwood Industrial Estate in Perth, Aspen Group's sole remaining material non-core asset, by an expression of interest process through Colliers International.

End

For further information please contact:

Clem Salwin

Chief Executive Officer

Phone: (+61) 2 9151 7500

Email: clems@aspengroup.com.au

For media enquiries:

David Tasker

Professional Public Relations

Phone: (+61) 8 9388 0944

Mobile:(+61) 433 112 936

Email: david.tasker@ppr.com.au

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