Director Retirement

Bettle Blitzes the BestNZX & MEDIA RELEASE

1 October 2012

Director Retirement

Kiwi Income Properties Limited, as Manager of Kiwi Income Property Trust, wishes to acknowledge the retirement of Mr John Duncan from the Board of the Manager, effective 30 September 2012.

Mr Duncan, whose retirement was foreshadowed at the Trust’s annual meeting of Unit Holders in August, has been a director of the Board since March 2002. Chairman of the Board, Mr Mark Ford, said “Mr Duncan has made a significant contribution to the Trust since he joined the Board in 2002. He leaves with our thanks and best wishes.”

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.

The total value of the Trust’s property portfolio is $1.95 billion. Assets include:

Key Retail Assets

Sylvia Park Shopping Centre Auckland

LynnMall 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

The Majestic Centre Wellington

Unisys House Wellington

44 The Terrace Wellington

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

ENDS

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