GPT Group http://www.alacrastore.com/company-snapshot/GPT_Group-1006953 Thursday, August 21, 2008 5:15:27 PM 1006953 GPT Group en AlacraStore RSS Builder 1.0 30 http://www.alacrastore.com/storecontent/moodys/PR_158869_820197218moodys/PR_158869_820197218htmlGlobal Credit Research Rating Action # JUL #### Rating Action: GPT RE Limited Moody's places GPT's ratings on review for possible downgrade Sydney, July ##, #### -- Moody's Investors Service has today placed on review for possible...7/9/2008 1:00:48 AMhtmlGPT RE LimitedGPT Europe Finance S.A.GPT Management LimitedGPT Group (The)GPT Europe Finance S.A.; GPT Group (The); GPT Management Limited; GPT RE Limited820197218820197217807760325600062304150.0000NewsRating ActionPR_158869_820197218Credit & Investment ResearchMoody's Global Credit Researchhttp://www.alacrastore.com/storecontent/spcred/658347spcred/658347normThe latest News from S&Pglobalstructured7/7/2008 9:04:00 PM100News658347AustraliaDiversified REIT'sPacificGlobal IssuersStructured FinanceCorporationsCollateralized Debt ObligationsReal Estate CompaniesNewsMELBOURNE (Standard&Poor's) July 8, 2008--Standard&Poor's Ratings Services today said that it had lowered its corporate credit ratings on GPT Group to 'BBB/A-3' from 'BBB+/A-2'. The outlook remains negative. This rating action follows GPT's market update, which incorporated a lowering of its fiscal 2008 earnings guidance by 27% due to difficult operating conditions in its key markets. GPT also announced a range of other capital-management and strategic plans for the group. "The downgrade reflects GPT's relatively high "look-through" debt levels, ongoing delays in progressing asset sales to de-lever the group, and continuing concerns regarding the group's liquidity profile," Standard&Poor's credit analyst Paul Draffin said. "In addition, GPT's shareholder friendly decision not to underwrite the JuneAUS40402010 404020 4040 40GPT Group390903PACGPT@AUNEWSAUS40402010 404020 4040 40General Property Trust126961PACGPT@AUGLOBISSSTRUCCORPCDORECCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/658348spcred/658348normThe latest Research Update from S&Pglobalstructured7/7/2008 9:04:00 PM175Research Update658348AustraliaDiversified REIT'sPacificGlobal IssuersStructured FinanceCorporationsCollateralized Debt ObligationsReal Estate CompaniesResearch UpdateOn July 8, 2008, Standard&Poor's Ratings Services lowered its corporate credit ratings on GPT Group to 'BBB/A-3' from 'BBB+/A-2'. The outlook remains negative. This rating action follows GPT's market update, which incorporated a lowering of its fiscal 2008 earnings guidance by 27% due to difficult operating conditions in its key markets. GPT also announced a range of other capital-management and strategic plans for the group. The downgrade reflects GPT's relatively high "look-through" debt levels, ongoing delays in progressing asset sales to de-lever the group, and continuing concerns regarding the group's liquidity profile. In addition, GPT's shareholder friendly decision not to underwrite the June 2008 distribution reflects concerns regarding the group's commitment to protecting credit quality during this challengingAUS40402010 404020 4040 40GPT Group390903PACGPT@AURESUPDAUS40402010 404020 4040 40General Property Trust126961PACGPT@AUGLOBISSSTRUCCORPCDORECCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/657197spcred/657197normThe latest Summary from S&Pglobalstructured6/30/2008 11:28:07 PM175Summary657197AustraliaDiversified REIT'sPacificStructured FinanceReal Estate CompaniesGlobal IssuersCorporationsSummaryThe ratings on GPT Group reflect the group's large and diverse property portfolio across Australia, Europe, and the U.S., and a well-spread lease-maturity profile. These strengths are tempered by the group's intermediate financial risk profile, the infancy of its offshore funds-management operations, challenges associated with exiting the group's offshore joint venture (JV) with Babcock&Brown Ltd. (B&B), and its demonstrated appetite for higher yielding property assets and more risky property-development activities. Importantly for the ratings, GPT recently announced a plan to exit its A$7.1 billion offshore JV with B&B. If the exit is executed well, GPT's exposure to the debt of the JV and the JV's higher yielding assets should reduce significantly. The JV is leveraged to 69.5%, andAUS40402010 404020 4040 40GPT Group390903PACGPT@AUSUMMARYGLOBISSSTRUCCORPRECCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/moodys/PR_154355_820654434moodys/PR_154355_820654434htmlGlobal Credit Research Announcement # MAY #### Announcement: Goodman Plus Trust Moody's has a stable outlook for Australian REITs Sydney, May ##, #### -- Moody's has a stable outlook on the ratings of Australian real estate investment...5/2/2008 12:43:12 AMhtmlGoodman Plus TrustGoodman GroupWestfield GroupAustralian Leisure & Entert. Prty Mgmt LtdCommonwealth Property Office FundGPT Group (The)Australian Leisure & Entert. Prty Mgmt Ltd; Commonwealth Property Office Fund; Goodman Group; ...820654434815096304807692663806762347600063393600062304150.0000NewsAnnouncementPR_154355_820654434Credit & Investment ResearchMoody's Global Credit ResearchAUSTRALIA - GPT Group was rumored to be planning to merge with Stockland, a real estate investment services provider.4/22/2008 5:02:51 PM36367Z86132L36367Z86132LGPT GroupStocklandGPT GroupStocklandhttp://www.alacrastore.com/storecontent/Thomson_M%26A/GPT_Group_is_rumored_to_be_planning_to_acquire_Stockland-1970750040sdc/19707500401970750040Copyright © 2008, Thomson Financial, All Rights ReservedAustraliaInvestment & Commodity Firms,Dealers,ExchangesAustraliaReal estate investment trusts6798FFForeignPublicGPT6531:Real estate agents and managers6722:Management investment offices, open-end6798:Real estate investment trusts6799:Investors, nec7011:Hotels and motels6531:Real estate agents and managers6722:Management investment offices, open-end6798:Real estate investment trusts6799:Investors, nec7011:Hotels and motelsAustraliaReal Estate; Mortgage Bankers and BrokersAustraliaLand subdividers and developers, except cemeteries6552FFForeignPublicSGP230280002REITPvd RE invest,dvlp svcsNot ApplicableStock279929002Apr 22 20080.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000001.000002.000003.000004.000005.000006.000007.000008.000009.0000010.0000011.0000012.0000013.0000014.0000015.0000016.0000017.00000GPT Group, based in Sydney,New South Wales, is a realestate investment trustfocused on properties in theAustralian retail, office,industrial, and hotel/tourismsectors, with an investor baseof about 48,000. It is alsoinvolved in developing retail,commercial, industrial andoffice park properties,managing property trust, andmanaging property, funds andhotel. Established in 1970,the firm maintains operationsin Australia, Europe and theUS.GPT Group, based in Sydney, New South Wales, is a realestate investment trust focused on properties in theAustralian retail, office, industrial, and hotel/tourismsectors, with an investor base of about 48,000. It is alsoinvolved in developing retail, commercial, industrial andoffice park properties, managing property trust, andmanaging property, funds and hotel. Established in 1970, thefirm maintains operations in Australia, Europe and the US.GPT Group, based in Sydney, New South Wales, is a real estate investment trust focused on properties in the Australian retail, office, industrial, and hotel/tourism sectors, with an investor base of about 48,000. It is also involved in developing retail, commercial, industrial and office park properties, managing property trust, and managing property, funds and hotel. Established in 1970, the firm maintains operations in Australia, Europe and the US.1.000002.000003.000004.000005.000006.000007.000008.000009.0000010.0000011.0000012.0000013.0000014.0000015.0000016.0000017.0000018.0000019.00000Stockland, headquartered inSydney, New South Wales,provides real estateinvestment trust anddevelopment services, whilealso actively engaged inconstruction of commercialbuildings and townhouses. Itsprincipal activities includeinvestment and development ofretail, commercial, industrialand office park properties aswell as dealing withdevelopment of residentialproperties, property trustmanagement and hotelmanagement. It operates in NewZealand and Australia, whereit was established in 1952.Stockland, headquartered in Sydney, New South Wales,provides real estate investment trust and developmentservices, while also actively engaged in construction ofcommercial buildings and townhouses. Its principalactivities include investment and development of retail,commercial, industrial and office park properties as well asdealing with development of residential properties, propertytrust management and hotel management. It operates in NewZealand and Australia, where it was established in 1952.Stockland, headquartered in Sydney, New South Wales, provides real estate investment trust and development services, while also actively engaged in construction of commercial buildings and townhouses. Its principal activities include investment and development of retail, commercial, industrial and office park properties as well as dealing with development of residential properties, property trust management and hotel management. It operates in New Zealand and Australia, where it was established in 1952.0.000000.000000.000001450.54000N21 Apr 08Mon, 21 Apr 2008 00:00:00 ESTDate Announced: 04/21/2008Date Effective:MergerNot Appl.0.000000.000000.000000.000000.000000.00000Price/Share0.0000000.000000.0000000.000000.000000.000000.000000.000000.0000000.00000N0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000100.000000.000000.000000.000000.000000.000000.000000.000000.000000.000006.147005.965005.930000.000000.000000.000000.000000.000000.000000.000008938.222000.000000.000000.000000.000000.000001.000002.000003.000004.000005.00000AUSTRALIA - GPT Group wasrumored to be planning tomerge with Stockland, a realestate investment servicesprovider.AUSTRALIA - GPT Group was rumored to be planning to merge with Stockland, a real estate investment services provider.AUSTRALIA - GPT Group was rumored to be planning to merge with Stockland, a real estateinvestment services provider.AUSTRALIA - GPT Group was rumored to be planning to merge with Stockland, a real estate investment services provider.AUSTRALIA - GPT Group was rumored to be planning to merge with Stockland, a real estate investment services provider.Rumor0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.00000Status:Rumor-999.00000np0.00000-999.00000np0.000000.000000.000000.000000.000000.000000.000000.000000.000000.000000.000006552:Land subdividers and developers, except cemeteries6798:Real estate investment trusts8741:Management services230280002AustraliaAustralia6798ForeignPublicGPT6552:Land subdividers and developers, except cemeteries6798:Real estate investment trusts8741:Management services279929002AustraliaAustralia6552ForeignPublicSGP0.000000.000000.000000.00000Deal InformationThomson Financial Mergers & Acquisitionshttp://www.alacrastore.com/storecontent/spcred/634393spcred/634393normThe latest Summary from S&P3/7/2008 4:50:37 AMSummary175globalstructured634393AustraliaDiversified REIT'sPacificGlobal IssuersStructured FinanceCorporationsCollateralized Debt ObligationsReal Estate CompaniesSummaryThe ratings on GPT Group (GPT or group) reflect the group's large and diverse property portfolio across Australia, Europe, and the U.S., and a well-spread lease-maturity profile, which together provide adequate protection against volatile property cycles. These strengths are tempered by the group's moderately increased debt usage; the infancy of the group's offshore funds-management operations, which are key to the group's growth strategy; and GPT's growing appetite for higher yielding property assets and more risky property-development activities. GPT is an Australian-based stapled property group comprising the units of General Property Trust and the shares of GPT Management Holdings Ltd. GPT's asset mix and growth strategy has changed significantly in the past three years, with the group pursuing a global growthAUS40402010 404020 4040 40GPT Group390903PACGPT@AUSUMMARYAUS40402010 404020 4040 40General Property Trust126961PACGPT@AUGLOBISSSTRUCCORPCDORECCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/598811spcred/598811normThe latest Full Report from S&P8/30/2007 4:35:10 AMFull Report400globalstructured598811AustraliaDiversified REIT'sPacificGlobal IssuersStructured FinanceCorporationsCollateralized Debt ObligationsReal Estate CompaniesFull ReportLarge and diverse property portfolio Well-spread lease-maturity profile and diversified tenant base Improving geographic and asset diversity Short-term debt-maturity profile, which may cost more to refinance because of recent volatility in global credit markets Intermediate financial risk profile Growing appetite for higher-risk asset classes, geographic markets, and property-related activities (such as property development) The ratings on GPT Group (GPT or group) reflect the group's large and diverse property portfolio across Australia, Europe, and the U.S., and a well-spread lease-maturity profile, which together provide adequate protection against volatile property cycles. These strengths are tempered by the group's increasing debt usage and significant short-term debt maturities; the infancy of the group's offshore funds-management operations, which are critical to the group's growth strategy;AUS40402010 404020 4040 40GPT Group390903PACGPT@AUFULLAUS40402010 404020 4040 40General Property Trust126961PACGPT@AUGLOBISSSTRUCCORPCDORECCredit & Investment ResearchS&P Credit Researchhttp://www.alacrastore.com/storecontent/spcred/598812spcred/598812normThe latest Summary from S&P8/30/2007 4:35:10 AMSummary175globalstructured598812AustraliaDiversified REIT'sPacificGlobal IssuersStructured FinanceCorporationsCollateralized Debt ObligationsReal Estate CompaniesSummaryThe ratings on GPT Group (GPT or group) reflect the group's large and diverse property portfolio across Australia, Europe, and the U.S., and a well-spread lease-maturity profile, which together provide adequate protection against volatile property cycles. These strengths are tempered by the group's increasing debt usage and significant short-term debt maturities; the infancy of the group's offshore funds-management operations, which are critical to the group's growth strategy; and GPT's growing appetite for higher yielding property assets and more risky property-related activities. GPT is an Australian-based stapled property group comprising the units of General Property Trust and the shares of GPT Management Holdings Ltd. GPT's asset mix and growth strategy has changed significantly in the past two years, with the groupAUS40402010 404020 4040 40GPT Group390903PACGPT@AUSUMMARYAUS40402010 404020 4040 40General Property Trust126961PACGPT@AUGLOBISSSTRUCCORPCDORECCredit & Investment ResearchS&P Credit Research