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Charter Hall Expands Operations with New Senior Appointments

18/02/2008

The Charter Hall Group is pleased to announce it has expanded operations, appointing a new CFO and a number of other senior executives.

Peter Roberts joins Charter Hall as the Group's Chief Financial Officer. This appointment recognises the substantial growth of the Group since IPO in June 2005, evidenced by the increase in assets under management to $3.7 billion.

Following an extensive four month search, Peter was selected from a strong field of candidates and joins Charter Hall with highly relevant credentials. Peter held senior executive roles as CFO of DB RREEF and prior to that as CFO of Colonial First State Property. He also previously held the position of Property Fund Manager for Lend Lease Real Estate Investments.

Peter is a Chartered Accountant (Fellow) with in excess of 25 years experience in accounting, tax, finance, and property funds management. Peter has developed strong contacts with institutional investors and the financial community.

Peter's appointment complements both the Finance team and our Corporate Development team lead by Jelte Bakker and is expected to provide considerable support to the senior management team across Finance, Treasury and Structuring.

Through Peter's extensive experience and leadership, he will provide support and guidance to our existing high calibre Finance team. Our previous CFO, Nathan Francis, remains with the Group in the role of Deputy CFO and Company Secretary, working closely with Peter and the Finance team.

The Group is also pleased to announce its expansion into Victoria, with the opening of aMelbourne office. Charter Hall's increased level of activity in the Victorian market is in line with the Group's growth strategy. The Group has recently appointed Paul Hudson as an AssetManager for its growing number of Melbourne assets and is working towards establishing a local development team to service its various Victorian development projects. The opening of the Group's Melbourne office signifies another milestone for Charter Hall, adding to its presence in Sydney (head office), Brisbane, Perth and Auckland.

In addition to the Group's expansion in Australia, the Group has also appointed Jonathan Ash as a Development Manager in New Zealand. Jonathan will work with the Auckland based team to identify and deliver a range of quality development projects.

Charter Hall's Joint Managing Directors, David Harrison and David Southon said: "We believe the appointment of Peter Roberts and other senior executives considerably increases the operational and strategic capacity of the Group, underpinning our commitment to growing quality earnings and return on investors' equity".