CFS Retail Property Trust : 20 January 2012 - Correction to 'The SMH' and 'The Age' newspapers articles

Responsible Entity:

Commonwealth Managed Investments Limited

ABN 33 084 098 180

AFSL 235384

Colonial First State Property Retail Pty Limited

ABN 19 101 384 294

Manager of CFS Retail Property Trust

20 January 2012

CFS RETAIL PROPERTY TRUST (CFX)

Registered Address: Ground Floor, Tower 1

201 Sussex Street

Sydney NSW 2000

Principal Office of the Manager: Level 7 52 Martin Place

GPO Box 3892

Sydney NSW 2001 Australia

Telephone: [phone]

Facsimile: 02 9303 3622

Correction to 'The Sydney Morning Herald' and 'The Age' newspaper articles

Colonial First State Property Retail Pty Limited, Manager of CFS Retail Property Trust (CFX or the
'Trust'), wishes to correct an article published in today's The Sydney Morning Herald and The Age newspapers, "Banks get jump on Tax Office in snaring DFO assets", which incorrectly refers to 'the debt stricken Direct Factory Outlets group'.
The Trust is the owner of the Direct Factory Outlets name, the DFO assets in Moorabbin, Essendon and Homebush, as well as a 50% interest in DFO South Wharf. The debt issues to which the newspaper articles refer are in no way associated with the Trust; instead they relate to the original developers of DFO South Wharf and other assets unrelated to the Trust. To further clarify, the Trust licences the use of the DFO name to Austexx for outlets operated by Austexx in Queesnland, Tasmania and the Australian Capital Territory.
The article also incorrectly states that DFO South Wharf carries a 'debt burden'.
Under the Trust's management, DFO South Wharf has been a solid performer and forms part of a high quality portfolio of Australia shopping centres. As at 31 December 2011, DFO South Wharf recorded moving annual turnover sales growth of 5.1%, with sales in the month of December up 8.6% on the same period in the prior year.
The Trust is conservatively managed and remains in a robust financial position, maintaining an 'A' credit
rating from Standard and Poor's and has an estimated gearing* of 28.2% as at 31 December 2011.

* Gearing equals total drawn debt to total assets. For this calculation total assets exclude the fair value of derivatives.

For further information please contact:

ENDS

Michael Gorman Angus McNaughton

Fund Manager Managing Director, Property

CFS Retail Property Trust Colonial First State Global Asset Management

Phone: [phone] or [phone] Phone: [phone] or [phone]

Email: [e-mail]: [e-mail]

Investor and media contacts:

David Yates Mathew Chandler

Head of Investor Relations and Corporate Affairs Investor Relations and Corporate Affairs Manager

Colonial First State Global Asset Management Colonial First State Global Asset Management

Phone: [phone] or [phone] Phone: [phone] or [phone]

Email: [e-mail]: [e-mail]

About CFS Retail Property Trust

CFS Retail Property Trust (CFX or the 'Trust') is a retail sector-specific Australian Real Estate Investment Trust (A- REIT) which invests in high quality retail assets including regional and sub-regional shopping centres and retail outlet centres across Australia. Its stock market trading code is CFX. The Trust is managed on behalf of more than 18,000 investors from 24 countries.

About Colonial First State Global Asset Management (CFSGAM)

CFSGAM is the consolidated asset management arm of Commonwealth Bank of Australia (the 'Bank'), and sits within the Bank's Wealth Management division. Entities within CFSGAM provide management services to the Trust. CFSGAM Property is a fully integrated real estate investment business with approximately $18 billion in funds and assets under management, employing more than 850 people across Australia and New Zealand.