ACPI_BONDS Albany City Property Investments Limited

v2 Report - Additional Information Supplement

ACPI_BONDS
Albany City Property Investments Limited

Press releases

Media Release, 16 May 2007

ACPIL CAPITAL RAISING CLOSES OVERSUBSCRIBED

Albany City Property Investments Limited (ACPIL) is pleased to announce that its $20 million bond offer to the public has closed oversubscribed. In November ACPIL announced its intention to raise $20 million by the issue of secured Bonds to enable ACPIL and its subsidiaries (“ACPIL group”) to acquire perpetually renewable subleasehold interests in 12.85 hectares of land in Albany, North Shore, Auckland.

The value of this land was approximately $63 million. The offer opened on 15 November 2006 and closed yesterday, after being extended from its original closing date of 30 March 2007. On 1 March 2007, the bonds were listed on Unlisted’s trading platform and they can be freely traded on this exchange.

ACPIL director Garry Looker says the company received an extensive amount of interest in the Bonds in the days leading up to the close of the offer and he was delighted to announce that the offer had closed oversubscribed. “This demonstrates the confidence our investors have in the Albany City development.

Our expectations are that quality office, retail and residential space in Albany will increase in demand as the area becomes more populated.” The subleasehold interests that have or will be acquire by the ACPIL group are situated in close proximity to Westfield’s proposed shopping centre development, North Harbour Stadium, Massey University and other amenities such as the Albany Park N’ Ride bus station.

“We anticipate existing plans for the area will attract a significant retail and residential population base.” says Garry Looker. The bonds bear interest at a rate of 10.5% per annum for an initial term up to 15 December 2009. ACPIL will continue to post news announcements on Unlisted as information becomes available on the progress of its Albany development.

For further information please contact:

Garry Looker Phone 09 357 0444

Director Mob 021 964 051

Albany City Property Investments Free 0800 227 468

29 March 2007

ACPIL SECURES FIRST TENANT FOR OFFICE BLOCK AND ANNOUNCES EXTENSION TO BOND OFFER

Albany City Property Investments Limited (ACPIL) is delighted to announce that it has now received resource consent to construct its first office building in Albany on Auckland’s North Shore. Earthworks will commence at the site next month.

ACPIL director Garry Looker says in addition to acquiring resource consent for its new office building in Albany, ACPIL has also secured its first tenant. The office building is situated immediately adjacent to the motorway and is being developed in conjunction with the North Shore City Council’s masterplan for Albany City. The building is a high grade block covering 3,600 square metres in total including 104 carparks.

ACPIL is also announcing that it is extending its capital raising to 15 May 2007 after receiving $13 million in total from the public, with commitments for a further $6 million. The bonds are currently trading on the trading platform Unlisted.

Mr Looker says: “We believe that the pleasing level of support for this new company is a reflection of the quality of the investment and the vision of the project. From the outset, we have been actively working with other stakeholders to create an attractive and sustainable business environment for the region that meets all retail, recreational, and environmental requirements, and that appeals to our investors.”

Mr Looker adds "It is exciting to now be commencing construction of our first development. Securing our first tenant is a positive start for the building, which has already attracted some very high quality prospective tenants. This interest is an encouraging signal for ACPIL’s overall portfolio, and also for the wider North Shore region”

ENDS

For further information please contact:

Garry Looker	Phone	09 357 0444
Director	Mob	021 964 051
Albany City Property Investments	Free	0800 227 468

Overview of ACPIL

Albany City Property Investments Limited (ACPIL) is seeking to raise $20 million by the issue of secured bonds to enable the Company and its subsidiaries (the Group) to acquire perpetually renewable subleasehold interests in 12.85 hectares of land in Albany for approximately $63 million.

ACPIL secured ASX-listed Valad Property Group (Valad) as a significant investor in its Albany City development in early 2007. Valad’s investment totals $14.8 million, and as part of this deal bondholders now benefit from the enhanced security of a $6.5 million equity increase (now $29.6 million). The bond offer closes 15 May 2007.

ACPIL provides a unique opportunity for investors to take part in the creation of Albany’s new city precinct. Albany City’s location is ideally situated alongside Westfield’s proposed shopping centre development, North Harbour Stadium, Massey University and the new Albany Park N’ Ride bus station. The Albany City precinct is projected to be North Shore City’s major commercial centre with a population of more than 9,000 residents and 15,500 workers once developed to capacity.

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