PRIME RETIREMENT AND AGED CARE PROPERTY TRUST

Prime Retirement & Aged Care Property Trust (the Trust) is an Australian company that owns retirement villages and aged care facilities. It has a portfolio of more than 4,600 retirement village units and 780 aged care beds in nearly 40 locations. It also has a pipeline of at least a further 1,800 units and beds. The Trust’s portfolio is focused on key retirement Resorts in the Queensland and New South Wales coastal areas. The responsible entity of The Prime Retirement & Aged Care Property Trust is Australian Property Custodian Holdings Limited. On August 17, 2007, the Trust established a controlled entity, Lindfield RV Properties Pty Ltd, to undertake the management of the Trust’s interest in the development of the gardens of Lindfield retirement village project. On July 30, 2007, the Trust disposed of Carlyle Commercial Operations Pty Ltd to a third party.