Introduction of Westfield Group distribution reinvestment plan

27 January 2005

Countries: Australia

The Boards of Westfield Holdings Limited, Westfield Management Limited and Westfield America Management Limited have approved the introduction of a Westfield Group DRP commencing with the distribution for the 6 month period ended 31 December 2004 and payable on 28 February 2005.

The following items, which are attached, are today being sent to all members: