centro america fund sale update

Centro Properties Group – CAF Portfolio Sale Update

On 15 July 2008, Centro Properties Group (Centro) announced that it had entered into a
contingent agreement for the sale of the Centro America Fund (CAF) portfolio to a private real
estate investment advisor. The agreement was subject to certain closing conditions, including a
due diligence period and lender consent.
Centro now advises that the due diligence period has expired and the purchaser has elected to
terminate the agreement. Notwithstanding termination of the agreement, discussions between
Centro and the purchaser are continuing. No assurance can be given that those discussions
will result in the parties entering into a further agreement for sale or as to the terms of any
further agreement, if entered into.
Yours faithfully
Elizabeth Hourigan
Company Secretary