Mr Mark Ford appointed to the Board of KIPT

NZX & MEDIA RELEASE

16 May 2011

Mr Mark Ford appointed to the Board of Kiwi Income Properties Limited

Kiwi Income Properties Limited, as Manager of Kiwi Income Property Trust, today announced the appointment of Australian-based professional director, Mr Mark Ford, to the Board of the Manager with effect from 16 May 2011.

Mr Ford also holds the roles of Non-Executive Chairman for Cbus Property Pty Ltd and Non-Executive Director for the Manager of China Commercial Trust. His previous directorships include roles with Comrealty Ltd, South East Asia Property Company (chair), Property Council of Australia, Deutsche Asset Management Australia and Trafalgar Corporate Group Limited, amongst others.

Prior to becoming a professional director, Mr Ford was Managing Director, Head of DB Real Estate Australia, where he was responsible for more than $10 billion in property funds under management. This included overseeing the listing of two property trusts, the acquisition of the AXA Australia property business, the purchase of Paladin Limited and the merger of the Deutsche and Paladin trusts. Mr Ford was also a member of the global real estate executive committee for Deutsche Asset Management and RREEF. Previously, Mr Ford held senior roles in the finance and property sectors, beginning his career with Price Waterhouse in 1972.

Chairman of the Board, Mr Sean Wareing, said: “Mr Ford’s appointment further strengthens the Board’s industry knowledge and experience. In particular, Mr Ford brings to the Board a strong track record of success in both the property and finance sectors.”

Mr Ford is a Chartered Accountant, a Fellow of the Australian Institute of Company Directors, a member of the Institute of Chartered Accountants in Australia and holds a Diploma of Commerce (NSWIT) and a Company Directors Diploma.

In accordance with NZX Listing Rule 3.3.2, the Board has determined that Mr Ford is an independent, non-executive director.

ENDS

About Kiwi Income Property Trust

Kiwi Income Property Trust’s objective is to optimise returns for its Unit Holders through the careful acquisition, development and professional management of its property portfolio. The Trust is listed on the New Zealand Stock Exchange and is ranked within the top 15 on the NZX 50 Index, and is a member of the NZX 10 Index.

The total value of the Trust’s property portfolio is $1.98 billion. Assets include:

Key Retail Assets

Sylvia Park Shopping Centre Auckland

LynnMalll Shopping Centre Auckland

Centre Place Shopping Centre Hamilton

The Plaza Shopping Centre Palmerston North

North City Shopping Centre Porirua

Northlands Shopping Centre Christchurch

Key Office Assets

Vero Centre Auckland

National Bank Centre Auckland

21 Pitt Street Auckland

The Majestic Centre Wellington

Unisys House Wellington

44 The Terrace Wellington

50 The Terrace Wellington

PricewaterhouseCoopers Centre Christchurch

Kiwi Income Property Trust’s website address is www.kipt.co.nz

© Scoop Media