MARKET RELEASE

CHALLENGER DIVERSIFIED PROPERTY GROUP TO BE REMOVED FROM S&P/ASX ALL ORDINARIES INDEX 29 April 2014, Sydney - Challenger Diversified Property Group (ASX: CDI) announces that following Challenger Life's unconditional and final cash offer of $2.74 per unit, Challenger Life and its related entities now hold in excess of 70% of all CDI units.

As a result of this, S&P Dow Jones Indices have announced that it will remove CDI from the S&P/ASX All Ordinaries and related indices effective from 1 May 2014.

ENDS

About Challenger Diversified Property Group (CDI):

CDI offers investors exposure to a diversified portfolio of properties generating stable income returns and potential for capital growth. Further details are provided on CDI's website www.challenger.com.au/cdi

Important notice:

Any forward looking statements included in this document are by nature subject to significant uncertainties, risks and contingencies, many of which are outside the control of, and are unknown to, Challenger, so that actual results or events may vary from those forward looking statements, and the assumptions on which they are based.

Further enquiry: Jana Flanagan, Investor Relations Analyst +61 2 9994 7815

Nicole W ebb, Corporate Communications associate +61 2 9994 7806

Challenger Diversified Property Group

(comprising Challenger Diversified Property Trust 1 ARSN 121 484 606 and Challenger Diversified Property Trust 2 ARSN 121 484 713) Responsible Entity Challenger Listed Investments Limited ABN 94 055 293 644 AFSL 236887

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