Charter Hall Announces Managed Fund Re-valuations for 31 December 2009

Charter Hall Group (CHC) announces re-valuations as at 31 December 2009 within its suite of Funds,as detailed below:

Note: These movements are on a like for like basis and, as such, exclude movements during the quarter for asset sales completed prior to 31 December 2009.

Joint Managing Director, David Harrison said "property asset valuations are stabilising, with early signs that cap rates have started to compress for good quality, long WALE assets. Sales evidence has emerged in office, industrial and retail sectors, supporting the stabilisation of values".

Joint Managing Director, David Southon further commented "our recently announced successful sales programme within the Opportunistic Funds further supports the strength of investment demand from both domestic and offshore institutional investors, which we expect will gather pace during 2010".

ENDS

Charter Hall Group is a property funds management and development company, based in Sydney with offices in Melbourne,Brisbane, Perth, Adelaide and Auckland. Established in 1991 and listed on the ASX in 2005 as a stapled security under the code CHC, Charter Hall Group combines Charter Hall Limited with Charter Hall Property Trust. The Group currently has funds under management of $3 billion. The Charter Hall Group has achieved a solid track record across its activities demonstrating a 17 year history of managing wholesale capital, making it one of Australia's leading property fund managers. Charter Hall's success has been underpinned by a highly skilled and motivated management team with diverse expertise across property sectors and riskreturn profiles. The Group has also recently been included in the S&P/ASX 200 A-REIT index.