ann out, page-3

"In regards to the article on page 54 of the Australian Financial Review today, as previously
announced, Centro Properties Group is in discussions with a number of parties and lender
groups in relation to the recapitalisation process. Those discussions remain incomplete. At
this time, there is no certainty or assurance that these discussions will lead to a transaction,
what form such transaction may take, or what value might arise out of a transaction, if any."

GIDDY UP