AGRICULTURAL LAND TRUST

The former Westralia Property Trust, has $38.1 million up its sleeve from a $100 million banking facility which management said it would use to purchase further rural properties. Borrowing costs will decrease next half due to variable rates. The Trust is also free from paying responsible entity fees until June 2010. Distribution was in line with guidance at 1.4¢ per unit. AGRICULTURAL LAND TRUST Half year 2009 2008 Revenue ($m) 4.7 1.0 Pretax ($m) NA NA Net ($m) 1.8 0.12 EPU 2.06¢ -0.14¢ Interim dist* 1.4¢ uf 0.0¢ uf Units (last) 28¢ (NA ) *PayableMar 2