ASX ANNOUNCEMENT Announcement No. 14/14 The Manager Australian Stock Exchange 8 April 2014 Settlement of Sale of Victoria Hotel, Shepparton, VIC Highlights

Settlement of sale of the Victoria Hotel in Shepparton for $4.5 million

Capitalisation rate of 6.35% secured for regional Victorian property

Sold to a private investor at 98% premium to 2003 acquisition cost.

Settlement of Sale of Victoria Hotel

ALE Property Group (ASX Code: LEP) is pleased to announce the settlement of
the sale of the Victoria Hotel in Shepparton, a regional centre in Victoria, for $4.5 million.
The sale price equates to a capitalisation rate of 6.35% and compares favourably to ALE's weighted average capitalisation rate for the portfolio of 6.59% as at 31
December 2013.
The sale price is in line with the property's book value at 31 December 2013 and represents a 98% premium to the $2.27 million cost price of the property when it was acquired in November 2003.
The sale proceeds will reduce net debt and add further strength to ALE's capital position.
- 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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