Westfield Trust secures 79.3% of AMP Shopping Centre Trust

12 June 2003

Countries: Australia

Westfield Trust (ASX:WFT) announced that as at the close of trading today it had secured acceptances for 79.3% of the units on issue in AMP Shopping Centre Trust (ASX:ART), two days after declaring its bid unconditional.

Westfield Trust acquired 345.8 million ART units (42.7%) on market today, including the substantial unit holdings of AMP Life and Centro Property Group (ASX:CEP).

Westfield Trust is offering $1.80 per unit for the outstanding units in AMP Shopping Centre Trust. The bid which opened on the 10th June 2003 remains open for acceptance until the11th July 2003.

“We are very pleased with the market response to our offer,” said Westfield Managing Director Steven Lowy. “The shopping centres in the ART portfolio are very high quality assets and their acquisition represents a unique growth opportunity for Westfield Trust.”