Westfield Group (ASX:WDC) response to media speculation

13 July 2006

Countries: Australia

In response to media speculation in The Australian newspaper today, the Westfield Group (ASX: WDC) confirms it is continuing to review many options in relation to its capital management and funding strategies.

This review was noted by the Group Managing Directors in the Group’s recent annual results presentation and the March 2006 quarterly update. One of the options being considered by the Group is the establishment of a wholesale property fund.

Should this review result in new initiatives by the Group, an announcement will be made at the appropriate time.

Yours faithfully


Simon Tuxen
Company Secretary