The Distribution Reinvestment Plan (the "DRP) allows eligible unitholders who elect to participate to reinvest all or a portion of their distribution entitlements in additional units in the Trust. Units are issued free of brokerage and other costs.

Units may be issued at a discount to the market price at a level, if at all, determined by the directors. In the past, the discount applicable to new units issued under the DRP has been 2.5 per cent.

In addition to providing unitholders with flexibility in receiving their distribution entitlement, the DRP also provides the Trust with a means of raising capital on a regular basis to fund new acquisitions and developments or to pay off existing debt.

The DRP commenced in 2000. In February 2005 the Directors resolved to suspend the DRP due to the gearing level of the Trust at the time and the prevailing market price of units. In May 2008 the DRP was reinstated.

The DRP is optional and is open to all unitholders in the Trust except those who are resident in or subject to laws of any country in which offering or issuing units under the DRP would be unlawful or make it impractical, in the opinion of the Directors, for the DRP to be offered to them. The Directors have resolved that it is impractical to offer the DRP to unitholders other than those whose addresses are in Australia or New Zealand.

A summary of unit prices issued in the past under the DRP is as follows:

For a more detailed summary and terms and conditions of the DRP click here

For an application form to participate in the Plan click here . Please note that currently only unitholders resident in Australia or New Zealand may apply to participate in the DRP.