Eureka Development Fund No.2 is an unlisted property trust, established in March 2007.

The Fund is closed for new investors having secured equity commitments of $159.5 million* from institutional investors. The Fund’s investment period ends in September 2009 and Eureka is actively seeking to secure investments for the fund.

The strategy of the Fund is to generate investor value from on and off-market opportunities, investing in a wide range of property development and counter cyclical investment opportunities. The Fund may invest in a broad range of property development opportunities across all property sectors in Australia. The investment strategy is based on the single use of equity, meaning that funds will be returned to investors upon liquidation of the projects, rather than reinvesting into new projects.

* This includes a co-investment of $2m by Eureka Funds Management Investments Pty Ltd.

109-113 George Street, Parramatta, NSW Location:   Parramatta, NSW JV Partner:   100% Eureka Project Type:   Commercial development (24,000m2) Land Area:   3,656m2 Stages:              1

Lot25, Honeysuckle Drive, Lee Wharf, NSW Location:   Newcastle, NSW JV Partner:   Buildev Group Project Type:   Commercial development (21,000m2) Land Area:   8,548m2 Stages:              1

Stage 5, Martha Cove, Mornington, VIC Location:   Mornington, VIC JV Partner:   100% Eureka Project Type:   Residential  land development Land Area:   16 hectares Lots:   208 Stages:              1

999 Yarrawonga Street, Macksville, NSW Location:   Macksville, NSW JV Partner:   Buildev Group Project Type:   Industrial land development Land Area:   16 hectares Lots:   30 Stages:              4

Darlington Park, Yatala, QLD Location:   Yatala, QLD JV Partner:   Buildev Group Project Type:   Industrial land development Land Area:   61 hectares Lots:   104 Stages:              4

55 Harrogate Lane, Old Bar, NSW Location:   Old Bar, NSW JV Partner:   Buildev Group Project Type:   Residential land development Land Area:   22 hectares Lots:   252 Stages:              8

Lovelle Street, Moss Vale, NSW Location:   Moss Vale, NSW JV Partner:   Buildev Group Project Type:   Residential land development Land Area:   80 hectares Lots:   700 residential lots and 200 retirement units Stages:              10

Lot 752 and 785 Port Coogee, WA Location:   Port Coogee, WA JV Partner:   Australand Holdings Limited Project Type:   Residential apartments Land Area:   9,000 square metres Lots:   72 apartments Stages:              2

6941 The Bucketts Way, Tinonee, NSW Location:   Tinonee, NSW JV Partner:   Buildev Group Project Type:   Rural residential land development Land Area:   61 hectares Lots:   92 Stages:              3