Revised business strategy - refinancing terms agreed with Senior and new Mezzanine Lender, and capital structure stabilised Property net income up 4.3% to ¥4.53 billion (A$60.9 million) Funds from operations of A$33.3 million equating to 8.21 cents per unit ("cpu") Portfolio occupancy remains high at 95.4% (97.6% at June 2008)

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