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Calan Approves Extension To Artemis Purchase

May 31, 2004

Calan Approves Extension To Artemis Purchase

Statement made by Miles Wentworth, Chief Executive Officer, Calan Healthcare Properties Trust

Calan Healthcare Properties Trust has approved a request for a four week extension by privately owned Radius Health Group Ltd, who are looking to purchase the Artemis Medical Centre on Auckland’s North Shore for $2.45 million plus GST. The due date for the sale going unconditional is now 30 June 2004.

The conditional sale of Artemis was announced on May 12, 2004, and was subject to the purchasers due diligence, completing successful negotiations with a major tenant and gaining board approval.

The sale of Artemis is in line with Calan’s stated strategy of exiting non revenue producing assets and tidying up our investment portfolio.

ENDS

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