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The Westfield Group is an internally managed, vertically integrated, shopping centre group undertaking ownership, development, design, construction, funds/asset management, property management, leasing and marketing activities.The Westfield Group has interests in total assets of A$52.5 billion, representing 129 shopping centres in four countries with over 10.6 million square metres of retail space, making the Westfield Group the largest Australian property group listed on the ASX and the world’s largest retail property group by equity market capitalisation. ( refer below table )With shopping centres spread across 5 states of Australia, 14 states of the United States, New Zealand and the United Kingdom, the portfolio benefits from extensive geographic diversity. In addition, within the portfolio there are approximately 22,500 retail outlets representing a wide spectrum of the retailing industry who operate in shopping centres.Two Year Review for Year ended December

Financial Highlights 2005

2006

Net Property Income $2,449m

$2,588m

Profit After tax $4,247m

$5,583m

Distribution $1,828m

$1,871m

Total Assets Under Management $52,517m

$60,739m

Shopping Centre Assets $42,577m

$47,944m

Net Assets $19,466m

$23,453m

Gearing(Net Debt as % Assets) 41.4%

38.4%

Market Capitalisation $33,393m

$39,063m

Market Segment Of Westfield Group:

Australia

No Of Shopping Centre

44

Total GLA (million sqm)

3.5

Retails Outlets

11,500

Assets Values (Billion)

AUD25.1

New Zealand

No Of Shopping Centre

11

Total GLA (million sqm)

0.3

Retails Outlets

1,500

Assets Values (Billion)

NZD2.6

North America

No Of Shopping Centre

59

Total GLA (million sqm)

6.1

Retails Outlets

9,000

Assets Values (Billion)

USD18.7

United Kingdom

No Of Shopping Centre

7

Total GLA (million sqm)

0.3

Retails Outlets

750

Assets Values (Billion)

GBP3.8

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