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Level 15, 255 Pitt Street Sydney NSW 2000 Australia GPO Box 3698 Sydney NSW 2001 www.challenger.com.au

Telephone 02 9994 7000 Facsimile 02 9994 7777

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31 May 2007

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

Sozone Kopperturby

Suzie Koeppenkastrop Company Secretary

attach

Malbourne – Level 10, 101 Collins Streel PO Box 297, Filnders Lane, Malbourne VIC 3000 Telephone 03 8616 1800 Facsimile 03 8616 1899
Brisbane – Level 9, CUA Building 175 Eagle Street GPO Box 3234, Brisbane QLD 4001 Telepho

Challenger Financial Services Group Limited ABN 85-106 842 371 Challenger Ghoup Services Pty Limited ABN 91-085-857-307 Challenger Life No.2 Limited ABN 44 072 486 938 AFSL 234870 Challenger Commercial Lending Limited ABN 65 000 033 143 Challenger Martaged Investments Limited ABN 94 002 835 592 AFSL 234688 RSE Lic. No. LOOD2167 Challenger Usted 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

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

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 a substantial holding notice to the company or scheme are as follows:

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 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

This is page 1 of 3 pages of Annexure 1 referred to in Form 604 signed by me and dated 31/05/2007

Sungue 16 grekesbrook
Chris Robson
Company Secretary $\mathbb{R}^2$

$\mathcal{A}$

This is page 2 of 3 pages of Annexure 1 referred to in Form 604 signed by me and dated 31/05/2007

Chris Robson
Chris Robson
Company Secretary

$\overline{\phantom{a}}$

This is page 3 of 3 pages of Annexure 1 referred to in Form 604 signed by me and dated 31/05/2007

Chris Robson
Chris Robson
Company Secretary

$\hat{\mathcal{A}}$

This is page 1 of 1 page of Annexure 2 referred to in Form 604 signed by me and dated 31/05/2007

Suzie Koepperklastrop

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