ASX announcement ASX code: AAZPB

1 Homebush Bay Drive

Building C, Level 3

Rhodes NSW 2138

02 9767 2000

PO Box 3307

Rhodes NSW 2138

australand.com.au

1 July 2014

Frasers Offer - Implications for ASSETS holders

Australand Property Group ("Australand") has entered into a Bid Implementation Agreement ("BIA") with Singapore-listed Frasers Centrepoint Limited ("Frasers") under which a wholly owned subsidiary of Frasers will make an off-market takeover offer to acquire all of Australand's stapled securities (the "Offer").

In the event the Offer becomes unconditional and Frasers and its associates have a relevant interest in more than 50% of Australand stapled securities (on a fully diluted basis), Australand and Frasers currently intend that the issuer of the ASSETS will exercise its right to redeem all the ASSETS at face value ($100 per security) as soon as practicable.
ASSETS holders are not required to take any action at this time. Australand will continue to keep
ASSETS holders informed in accordance with its continuous disclosure obligations.

Issued by

Bev Booker
Group Company Secretary
T +61 2 9767 2000
E bbooker@australand.com.au

Investor enquiries

Kieran Pryke
Chief Financial Officer
T +61 2 9767 2000
E kpryke@australand.com.au
Narelle Checchin
Investor Relations Manager
T +61 2 9767 2108
E nchecchin@australand.com.au

Australand Holdings Limited ABN 12 008 443 696 Australand Property Limited ABN 90 105 462 137 AFSL 231130 as responsible entity of Australand Property Trust ARSN 106 680 424 and Australand ASSETS Trust ARSN 115 338 513

Australand Investments Limited ABN 12 086 673 092 AFSL 228837 as responsible entity of Australand Property Trust

No.4 ARSN 108 254 413 and Australand Property Trust No.5 ARSN 108 254 771

distributed by