Snapshot of RABINOV PROPERTY TRUST (RBV)

Rabinov Property Trust, Annual General Meetings, May 31, 2011., at 09:05 AUS Eastern Standard Time. Location: Baker & McKenzie at Level 19. Agenda: To consider that for the purposes of ASX Listing Rule 10.1 and for all other purposes, the unitholders of the company approve the sale of specified properties to the subordinated debtholder Anrose Nominees Pty Ltd.

Growthpoint Properties Australia Limited and Rabinov Property Trust Trust have confirmed that they are in talks over a possible merger. Growthpoint and Rabinov issued statements confirming the talks, in response to a report in Fairfax newspapers. Growthpoint, with a market capitalization of AUD 393 million, said it was in talks with "a number of parties", including Rabinov, which holds 18 properties in its portfolio and is capitalized at AUD 36.5 million. "Growthpoint Properties Australia continues to explore investment opportunities to diversify and expand its property portfolio via direct property acquisitions, property portfolio purchases and merger and acquisition opportunities where these transactions are of value to its security holders. As a result, Growthpoint Properties Australia is in discussion with a number of parties.While Growthpoint Properties Australia has had discussions in relation to a potential transaction with Rabinov Property Trust, definitive terms have not been agreed. There is no guarantee that any transaction will be entered into between the parties," a statement from Growthpoint said. In its own statement, Rabinov said it had held "confidential discussions with Growthpoint on various matters, including a potential merger, and discussions continue in this regard. "However, it should be noted that no binding agreement has been reached between the parties and Rabinov is not in a position to give any assurance that a transaction will eventuate," it said.

Rabinov Property Trust reported consolidated earnings results for the half year ended December 31, 2010. For the period, the company reported net profit of AUD 3,426,579 or AUD 0.0656 per basic and diluted share on revenue from ordinary activities was AUD 10,882,045 against net profit of AUD 3,515,092 or AUD 0.0673 per basic and diluted share on revenue from ordinary activities was AUD 10,166,676 for the same period a year ago. Net cash provided by operating activities was AUD 2,814,560 compared to AUD 5,484,190 a year ago. Purchase or capital expenditure on investment property was AUD 91,589 compared to AUD 86,093 a year ago.