Sydney

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

Telephone 02 9994 7000 Facsimile 02 9994 7777

30 October 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 ~ 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

Sogance Kopperhashop

Suzanne Koeppenkastrop Company Secretary

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Contractor

Carl Carl Co

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Level 10, 101 Collins Street PO Box 297, Flinders Lane, Melbourne VIC 3000 Telephone 03 8616 1800 Facsimile 03 8616 1899
Level 9, CUA Building 175 Eagle Street GPO Box 3234, Brisbane CLD 4001 Telephone 07 3218 8000 Facsimi Melbourne Brishane Perth Adelaide

Challenger 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 65 000 033 143
Challenger Managed Investments Limited ABN 94 002 836 592 AFSL 234688 RSE Lic. No. L0002967 Challenger Usted Investments Limited ABN 94 055 293 644 AFSL 238 887 CIF Investment Trust 1 ARSN 114 139 703 CIF Investment Trust 2 ARSN 114 139 632
Challenger Wine Trust ARSN 092 980 060 Challenger Management Services Lim 174/CG045/0504

المتحدث والمتحدث والمتحدث والمستحدث والمستحدث والمحاري

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San American

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Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

2. Previous and present voting power

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:

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

4. Present relevant interests

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

5. Changes in association

The parsons 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

date

30/10/2006

e Kappeles hop

This is page 1 of 3 pages of Annexure 1 referred to in Form 604 signed by me and dated 30/10/2006

• Koppulantrop 2A Suzie Koeppenkastrop
  Company Secretary

This is page 2 of 3 pages of Annexure 1 referred to in Form 604 signed by me and dated 30/10/2006

Smanne Kopperhooper

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This is page 3 of 3 pages of Annexure 1 referred to in Form 604 signed by me and dated 30/10/2006

8 10 16 ppw 4 2000

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This is page 1 of 1 page of Annexure 2 referred to in Form 604 signed by me and dated 30.10.2006

Sujan Kypenhastrop

Transactions of units fully paid: