ING Real Estate Direct Office Fund

ING Real Estate Direct Office Fund

The Fund’s 100 Edward Street, Brisbane property was sold on 30 May 2008 for A$53.5 million. This represented a 21% premium to the 30 June 2007 valuation of the property of A$44 million.

Following the sale, a special distribution of $2.70per unit was paid to investors on 5 June 2008.

22 December 2008 Final Distribution to Investors

On 22 December 2008, the Fund paid its final distribution to investors of $0.2040 per unit. This comprised of net income since 30 June 2008 of $0.0155 per unit plus remaining capital of $0.1885 per unit.

Wind-up of the Fund

The Fund has been terminated with all capital and net income paid to investors. Audited completion accounts are expected to be lodged with ASIC in February 2009, marking completion of the Funds wind-up.

2009 Tax Return

The taxation statements for the 2009 Financial Year were mailed to investors on 22 December 2008.

Thank You For Your Support

Thank you for your support of the Fund over the past 3 and a half years. The Fundprovided an outstanding total return to investors (income plus capital growth) of 52% per annum since its establishment in May 2005.