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ING announces Annual Meeting

Wednesday 16 August 2006

ING announces Annual Meeting and launches Dividend Reinvestment Plan Notice of 2006 Annual Meeting

Unit Holders in ING Property Trust are being sent today written notice of the Trust’s 2006 Annual Meeting to be held at the Guineas 3 Lounge, Ellerslie Event Centre, Auckland on 30 August 2006 at 3pm.

Information concerning the Annual Meeting includes the Notice of Meeting, together with explanatory information and statements by the Manager, ING Property Trust Management Limited and by the Trustee,

The New Zealand Guardian Trust Company Limited. Unit Holders are invited to vote (either in person or by proxy) on the two resolutions to be considered at the Annual Meeting:

Resolution One: Amendment to Trust Deed – Reduced threshold for Unit Holder requisitioned meetings, management review and Unit Holder proposals

Resolution Two: Authorisation for Trustee and Manager to amend Trust Deed in certain circumstances.

Dividend Reinvestment Plan Together with the Notice of Meeting information, the Manager of ING Property Trust, ING Property Trust Management Limited, is also sending to Unit Holders today details of the Trust’s Dividend Reinvestment Plan (“DRP”). The DRP allows Unit Holders to elect to have fully paid units issued to them in lieu of all, or a specified part, of any cash dividend distributions otherwise payable. It also provides Unit Holders with the opportunity to acquire additional units in the Trust without incurring any brokerage or other transaction costs.

All units issued under the DRP will rank equally with all existing units in the Trust. Participation in the DRP is optional and a Unit Holder may join, withdraw from or amend his/her or its level of participation at any time (subject to the terms and conditions of the DRP).

In order to participate in the DRP in respect of all, a fixed number or a fixed portion of units, Unit Holders should complete the Election Notice included with the documents being sent to them. Unit Holders wishing to continue to receive dividends in cash in the usual way are not required to take any action.


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