2003 Media Releases

Deutsche Office Trust (ASX:DOT) has revised its fee structure to better align its financial interests with those of its shareholders. The changes are effective as of October 1, 2003 and will not require unitholder approval.

The amended fee structure is a combination of:

• a reduced, tiered base fee (being remuneration for the costs incurred in managing the Fund)
• a performance fee (being remuneration for achieving superior returns), and
• a remuneration cap set at existing Constitution levels

To claim the base fee and the performance fee (full fee entitlement) the RE must achieve returns for investors in excess of the ASX S&P 200 Property Accumulation Index.

The Trust distribution target for 2004 remains unchanged.

Further details of the new fee structure are attached.

For further information please contact:

Michael Brown
General Manager, Deutsche Office Trust
Phone: (02) 9249 9346
Mobile: 0414 902 601

Kristin Silva/Ainsley Gee
Communications, Deutsche Asset Management
Phone: (02) 9249 9568 / (02) 9249 9904

About Deutsche Office Trust

Deutsche Office Trust one of the largest listed office trust’s in Australia, listed on the Australian Stock Exchange. Its assets are valued at approximately AUD$2billion, which is expected to rise in excess of AUD$2.35 billion upon completion of a new premium office project in Perth and the new A-grade office project in Sydney. With investments in 16 properties across six of the country’s largest office markets (NSW, VIC, ACT and Perth), the Deutsche Office Trust invests in only premium, A and B grade office buildings.