Babcock & Brown Communities Group - Panel Decision

The Panel advises that it has decided not to make a declaration of unacceptable circumstances in response to an application dated 10 October 2008 from Australian Property Custodian Holdings Limited as responsible entity of The Prime Retirement and Aged Care Property Trust. The application concerned the proportional takeover offer for Babcock & Brown Communities Group by Prime and an Implementation Agreement between BBC and Lend Lease Corporation Limited dated 1 October 2008.