Tishman Speyer Office Fund : Completion of Sale of US REIT and Status of Distribution

Tishman Speyer Australia Limited (ABN 43 106 909 871) Responsible Entity of Tishman Speyer Office Fund ARSN 108 809 534

Level 12, The Chifley Tower

2 Chifley Square Sydney NSW 2000 www. tsof.com.au Ph: 61 2 9921 3900

Fax: [phone]

3 April 2012
The Manager
Company Announcements
ASX Limited
20 Bridge Street
Sydney NSW 2000

Tishman Speyer Office Fund (ASX: TSO) Completion of sale of US REIT

Tishman Speyer Australia Limited (ABN 43 106 909 871) ("TSAL"), in its capacity as responsible entity of Tishman Speyer Office Fund (ARSN 108 809 534) ("TSO"), today announces the completion of the sale of 100% of TSO's interest in Tishman Speyer U.S. Office, Inc. to U.S. Office Holdings, L.P. ("Completion").
Pursuant to the termination notice which was included as Appendix 3 in the Explanatory Memorandum dispatched to TSO unitholders on 27 February 2012 ("Explanatory Memorandum"), TSO terminated immediately following Completion.
As TSO has now been terminated, the net proceeds of the Sale will be distributed to TSO unitholders in accordance with the terms of the deed poll dated 10 February 2012 which was included as Appendix 4 in the Explanatory Memorandum. The distribution is expected to be made today. TSAL will release a further announcement once the distribution is complete.

Amount of Distribution

As previously announced, TSO will make a distribution of US$0.986659341 per TSO unit to
TSO unitholders who made valid currency elections to receive the distribution in US$.2
TSO unitholders who did not make a valid election to receive the distribution in US$ will receive the distribution in A$. Accordingly, the distribution of US$0.98665934 per TSO unit will be converted from US$ to A$ (at the A$/US$ exchange rate of 1.0394) such that TSO
unitholders who receive the distribution in A$ will receive A$0.94925856 per unit.3

Status of Distribution - Taxation Administration Act 1953 (Cth)

TSO is a managed investment trust for the purposes of subdivision 12-H of the Taxation Administration Act 1953 (Cth) in respect of the financial year ending 30 June 2012. None of the distributions described above should comprise a "Fund Payment" pursuant to Subdivision
12-H of Schedule 1 of the Taxation Administration Act 1953 (Cth), in respect of the financial year ending 30 June 2012.

1 The aggregate distribution that each TSO unitholder will receive will be rounded down to the nearest whole cent as described in the Explanatory Memorandum.

2 The distribution will be made in accordance with the Explanatory Memorandum, which stated that the distribution will be at least US$0.985 per TSO unit, but will not exceed

US$0.99 per TSO unit.

3 The aggregate distribution that each TSO unitholder will receive will be rounded down to the nearest whole cent as described in the Explanatory Memorandum.

However, final confirmation will be provided in the annual tax statements that will be sent to
TSO unitholders by 30 June 2012 ("Annual Tax Statements").
Australian resident unitholders should not rely on this announcement for the purposes of completing their income tax returns. Details of the full year tax components of distributions will be provided in the Annual Tax Statements.
For further information please contact:
Sandra McAloon
Sydney
61 2 9921 3906
Nicole Moodie
Sydney
61 2 9921 3902
Tishman Speyer Office Fund (ASX: TSO) has an interest in 16 high-quality assets in 10 markets across the U.S. TSO is managed by Tishman Speyer, one of the leading owners, developers, operators and fund managers of first-class real estate in the world. Tishman Speyer maintains in-house acquisitions and development; design and construction; property management; investment management; leasing; tax and risk management professionals. Since 1978, Tishman Speyer has acquired, developed and operated over 325 projects totaling over 116 million square feet and a property portfolio of over US$54.2 billion in total value across the United States, Europe, Latin America and Asia, including signature properties such as New York's Rockefeller Center and Chrysler Center, Berlin's Sony Center and Torre Norte in Sao Paolo, Brazil.