DEXUS Property Group (ASX: DXS)

ASX release

14 October 2014

DEXUS on-market securities buy-back

DEXUS Property Group ('DEXUS') today announced that its Board has approved an on-market securities buy-back ('buy-back'), as part of its active approach to capital management.
Should market conditions permit, DEXUS intends to undertake the buy-back of up to 5% of DXS securities on issue.
Darren Steinberg, DEXUS Chief Executive Officer said: "The buy-back provides the flexibility to acquire DXS securities on-market with a focus on enhancing returns to investors and has been initiated following recent market volatility."
Please refer to the attached Appendix 3C for further information relating to the buy-back.
For further information please contact:

Investor relations Media relations

David Yates T: +61 2 9017 1424
M: +61 418 861 047
E: david.yates@dexus.com
Louise Murray T: +61 2 9017 1446
M:+61 403 260 754
E: louise.murray@dexus.com

About DEXUS

DEXUS Property Group is one of Australia's leading real estate groups, investing directly in high quality Australian

office and industrial properties. With $17.8 billion of assets under management, the Group also actively manages office, industrial and retail properties located in key Australian markets on behalf of third party capital partners.

The Group manages an office portfolio of 1.7 million square metres located predominantly across Sydney, Melbourne,

Brisbane and Perth and is the largest owner of office buildings in the Sydney CBD, Australia's largest office market. DEXUS is a Top 50 entity by market capitalisation listed on the Australian Securities Exchange under the stock market trading code 'DXS' and is supported by more than 32,000 investors from 20 countries. With nearly 30 years of

expertise in property investment, development and asset management, the Group has a proven track record in capital

and risk management, providing service excellence to tenants and delivering superior risk-adjusted returns for its investors. www.dexus.com

Download the DEXUS IR app to your preferred mobile device to gain instant access to the latest stock price, ASX Announcements, presentations, reports, webcasts and more.


DEXUS Funds Management Ltd ABN 24 060 920 783, AFSL 238163, as Responsible Entity for DEXUS Property Group (ASX: DXS)

Appendix 3C Announcement of buy-back (except minimum holding buy-back) Information and documents given to ASX become ASX's property and may be made public. Introduced 1/9/99. Origin: Appendix 7B. Amended 13/3/2000, 30/9/2001, 11/01/10

Name of entity ABN/ARSN


DEXUS Property Group comprising the stapled securities of:

Rule 3.8A

DEXUS Diversified Trust (DDF) DEXUS Office Trust (DOT) DEXUS Industrial Trust (DIT) DEXUS Operations Trust (DXO)
60 575 572 573 (DDF)
45 098 862 531 (DOT)
27 957 640 288 (DIT)
69 645 176 383 (DXO)

We (the entity) give ASX the following information.

Information about buy-back


1 Type of buy-back On Market

2 +Class of shares/units which is the subject of the buy-back (eg, ordinary/preference)
DEXUS Property Group stapled securities

3 Voting rights (eg, one for one) One for one

4 Fully paid/partly paid (and if partly paid, details of how much has been paid and how much is outstanding)
Fully paid

5 Number of shares/units in the

+class on issue

5,433,110,810

6 Whether shareholder/unitholder approval is required for buy- back
Security holder approval is not required
7 Reason for buy-back Capital management

+ See chapter 19 for defined terms.

11/01/2010 Appendix 3C Page 1


8 Any other information material to a shareholder's/unitholder's decision whether to accept the offer (eg, details of any proposed takeover bid)
See ASX Release dated 14 October 2014 for further information including information required under ASIC Class Order 07/422.
The Group intends to use debt to fund the buy-back. Other than Stapled Securities held by directors of DEXUS
Funds Management Limited (which holdings have previously been disclosed to ASX), DEXUS's associates do not hold any DEXUS Property Group Stapled Securities.

On-market buy-back


9 Name of broker who will act on
the company's behalf
To be advised.
10 Deleted 30/9/2001.
11 If the company/trust intends to buy back a maximum number of shares - that number

Note: This requires a figure to be included, not a percentage.



DEXUS will undertake an on market buy-back of up to
271,655,540 stapled securities (which equates to
approximately 5% of stapled securities currently on issue).

12 If the company/trust intends to buy back shares/units within a period of time - that period of time; if the company/trust intends that the buy-back be of unlimited duration - that intention
DEXUS intends to complete the on market buy-back within 12 months.

13 If the company/trust intends to buy back shares/units if conditions are met - those conditions
There are no conditions.

Employee share scheme buy-back

14 Number of shares proposed to be bought back
N/A

15 Price to be offered for shares N/A

Selective buy-back


16 Name of person or description of class of person whose shares are proposed to be bought back
N/A
17 Number of shares proposed to be bought back
N/A

18 Price to be offered for shares N/A

Equal access scheme


19 Percentage of shares proposed to be bought back
N/A
20 Total number of shares proposed to be bought back if all offers are accepted
N/A

21 Price to be offered for shares N/A
22 +Record date for participation in offer

Cross reference: Appendix 7A, clause 9.

N/A

Compliance statement

1. The company is in compliance with all Corporations Act requirements relevant to this buy-back.

or, for trusts only:

1. The trust is in compliance with all requirements of the Corporations Act as modified by Class Order 07/422, and of the trust's constitution, relevant to this buy-back.

2. There is no information that the listing rules require to be disclosed that has not already been disclosed, or is not contained in, or attached to, this form.

Sign here:

14 October 2014 (Company Secretary)

Print name: Scott Mahony

+ See chapter 19 for defined terms.

11/01/2010 Appendix 3C Page 3

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