DNZ Property Fund NZX announcement

DNZ Vacant Land Sales Bring Development Land to Less Than 1.25% of Total Portfolio

DNZ Property Fund Limited (NZX code: DNZ), is pleased to advise the sale of two vacant lots at Tauriko Industrial Estate, Tauranga, settled on 25 March 2011. Following the settlement of these two vacant lots, development land comprises less than 1.25% (by value) of the DNZ portfolio. Net settlement funds from the sales will be utilised to repay bank debt.

ENDS