31 August 2016 Resignation of a Director

Aveo Group (ASX:AOG) comprising Aveo Group Limited and Aveo Funds Management Limited as Responsible Entity for the Aveo Group Trust announces that Mr Stephen Muggleton has resigned as Director of Aveo Group, effective 31 August 2016.

Aveo Group Chairman, Mr Seng Huang Lee commented that, "The Board would like to acknowledge the contribution and expertise Mr Muggleton has provided to the Aveo Group Board whilst he was a member. We wish him well in his future endeavours".

END

For further information contact: Anna Wyke - Company Secretary

T +61 2 9270 6146 |

E anna.wyke@aveo.com.au

About Aveo

"We will grow with older Australians by inspiring greater living choices."

Aveo is a leading and trusted owner, operator and manager of retirement communities across Australia. Aveo's philosophy is underpinned by a commitment to grow with older Australians by inspiring greater living choices. We currently do so for 13,000 residents in 89 retirement villages across Australia. Aveo also manages and develops a diversified $456 million property portfolio. Over 30 years, Aveo's portfolio has grown to one that encompasses retirement, residential, commercial, industrial and mixed-use property assets. Together these communities define how hundreds of thousands of people in Australia live, work, retire and invest.

Issued by Aveo Group (ASX:AOG) comprising Aveo Group Limited ABN 28 010 729 950 and Aveo Funds Management Limited ABN 17 089 800 082, AFSL No.

222273 as Responsible Entity for the Aveo Group Trust ARSN 099 648 754. Page 1 of 1

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