Sydney

Level 41, Aurora Place 88 Phillip Street Sydney NSW 2000 Australia GPO Box 3698 Sydney NSW 2001 www.challenger.com.au

Telephone 02 9994 7000 Facsimile 02 9994 7777

27 November 2006

The Manager Company Announcements Office Australian Stock Exchange Limited 20 Bridge Street SYDNEY NSW 2000

By electronic lodgement

Dear Sir

Re: Notice of change of interest of a substantial holder $\sim$ Reckson New York Property Trust (RNY)

We enclose notice of change of interest of a substantial holder in Reckson New York Property Trust. This notice is given by Challenger Financial Services Group Limited and each of its subsidiaries named in Annexure 1 to this notice.

Yours faithfully

Szam Koppulatory

Suzanne Koeppenkastrop Company Secretary

attach

Level 10, 101 Collins Street PO Box 297, Flinders Lane, Melbourne VIC 3000 Telephone 03 8616 1800 Facsimile 03 8616 1899 Melbourne Level 9, CDA Building 175 Eagle Street GPO Box 3234, Brisbane QLD 4001 Telephone 07 3218 8000 Facsimile 07 3220 3132
Level 3, 55 St Georges Terrace PO Box 25086, St Georges Terrace. Perth WA 6831 Telephone 08 9223 7800 Fac Brisbane Perth Adelaide

Chellenger Financial Services Group Limited ABN 85 106 842 371 Challenger Group Services Pty Limited ABN 91 085 657 307
Challenger Life No.2 Limited ABN 44 072 486 938 AFSL 234670 Challenger Commercial Lending Limited ABN Challenger Managed Investments Limited ABN 94 002 835 592 AFSL 234668 RSE Lic. No. L0002967 Challenger Listed Investments Limited ABN 94 055 293 644 AFSL 236 887 CIF Investment Trust 1 ARSN 114 139 703 CIF Investment Trust 2 ARSN 114 139 632 Chaltenger Wine Trust ARSN 092 960 060 Challenger Management Services Limited ABN 29 092 382 842

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

2. Previous and present voting power

The previous notice was dated

The previous notice was given to the company on

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

30.10.2006

30.10.2006

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Present relevant interests 4.

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as fo

6. Addresses

The addresses of persons named in this form are as follows:

Signature

print name Suzie Koeppenkastrop capacity Company Secretary 27/11/2006 date Kyrebsity

This is page 1 of 3 pages of Annexure 1 referred to in Form 604 signed by me and dated 27/11/2006

Suzane Kappen Kestrap
Suzie Koeppenkastrop
Company Secretary

This is page 2 of 3 pages of Annexure 1 referred to in Form 604 signed by me and dated 27/11/2006

pare Kappertenting Suzie Koeppenkastrop
Company Secretary

$\bar{\beta}$

J,

This is page 3 of 3 pages of Annexure 1 referred to in Form 604 signed by me and dated 27/11/2006

Suzie Koeppenkastrop
Company Secretary

This is page 1 of 1 page of Annexure 2 referred to in Form 604 signed by me and dated 27/11/2006

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