11 December, 2008VALAD RESPONDS TO ASX QUERYSYDNEY: Valad...

11 December, 2008
VALAD RESPONDS TO ASX QUERY
SYDNEY: Valad Property Group (ASX:VPG) has been asked by the ASX to respond to unsubstantiated statements outlined in an article published in today’s edition of The Australian newspaper.
Specifically, in response to the statement that “Valad Property Group’s management is believed to be seeking an equity backer to launch a company buyback;” as stated at the AGM on 30 October 2008, the Group will look at all opportunities to enhance security holder value, and will keep security holders and the market fully informed of any developments as they may occur. Valad has no specific knowledge of any potential company buyback at 20 cents per security.
The article also speculated that “Valad could move to return the European arm of the business it bought from Kevin McCabe last year.” Valad has not received and is not considering any such proposal.
The Group confirms it is in compliance with Listing Rule 3.1.