CFS Retail Property Trust : 25 January 2012 - Steady sales growth continues in CFX portfolio

Responsible Entity:

Commonwealth Managed Investments Limited

ABN 33 084 098 180

AFSL 235384

Colonial First State Property Retail Pty Limited

ABN 19 101 384 294

Manager of CFS Retail Property Trust

25 January 2012

CFS RETAIL PROPERTY TRUST (CFX)

Registered Address: Ground Floor, Tower 1

201 Sussex Street

Sydney NSW 2000

Principal Office of the Manager: Level 7 52 Martin Place

GPO Box 3892

Sydney NSW 2001 Australia

Telephone: [phone]

Facsimile: 02 9303 3622

Steady retail sales growth continues in CFX portfolio

Colonial First State Property Retail Pty Limited, Manager of CFS Retail Property Trust (CFX or the
'Trust'), today released its headline retail sales statistics to 31 December 2011 across its portfolio of
Australian shopping centres.
Michael Gorman, CFX Fund Manager said: "CFX's December specialty sales figures were solid, reaffirming our view that our retail tenants continue to benefit from being located within a well-managed high quality portfolio of Australian shopping centres."
Comparable retail specialty sales growth for the 12 months to 31 December 2011 was 2.9% compared to
1.2% for the 12 months to 30 September 2011. Comparable total retail sales were up 1.1% for the year compared to 0.6% reported for the year to 30 September 2011. This reflects the inclusion in the comparable basket of the shopping centres where major redevelopments were completed in November
2009.
Angus McNaughton, Managing Director of Property for Colonial First State Global Asset Management, said: "At a time when negative commentary on the Australian retail environment continues to dominate headlines, CFX's sales results highlight the benefits of having the Trust's centres managed by one of the strongest asset management teams in the country".
Retail sales or Moving Annual Turnover (MAT) for the 12-month rolling period to 31 December 2011 are outlined below:

Comparable1 Actual
Category	MAT 31 Dec MAT 2011 growth $m (%)	MAT 31 Dec MAT 2011 growth $m (%)
Department stores2 Discount department stores Supermarkets Mini majors Retail specialty Other retail3	619.0 (6.1) 736.0 (1.9) 1,482.7 2.1 708.0 0.2 2,563.5 2.9 462.8 3.3	653.4 (7.8) 782.3 (1.9) 1,563.2 3.0 758.0 1.7 2,710.6 2.4 481.9 3.6
Shopping centre portfolio	6,572.1 1.1	6,949.4 1.0
Retail outlet centres	537.0 0.2	537.0 0.2
Total portfolio	7,109.1 1.0	7,486.4 0.9

A more in-depth analysis of the Trust's portfolio retail sales performance will be released in the half-year results announcement on 21 February 2012.

ENDS

1 Comparable centres refer to those centres that are not undergoing or have not undergone substantial redevelopment in either period of comparison.

2 Comparable department stores and total growth variances exclude David Jones Chadstone, which was impacted by the substantial upgrade works undertaken between January and October 2011.

3 Other retail includes cinemas and sales-reporting tenancies under 400 sqm including travel agents, auto accessories, Lotto and other entertainment and non-retail stores.

For further information please contact:

Michael Gorman Angus McNaughton

Fund Manager Managing Director, Property

CFS Retail Property Trust Colonial First State Global Asset Management

Phone: [phone] or [phone] Phone: [phone] or [phone]

Email: [e-mail]: [e-mail]

Investor and media contacts:

David Yates Mathew Chandler

Head of Investor Relations and Corporate Affairs Investor Relations and Corporate Affairs Manager

Colonial First State Global Asset Management Colonial First State Global Asset Management

Phone: [phone] or [phone] Phone: [phone] or [phone]

Email: [e-mail]: [e-mail]

About CFS Retail Property Trust

CFS Retail Property Trust (CFX or the 'Trust') is a retail sector-specific Australian Real Estate Investment Trust (A- REIT) which invests in high quality retail assets including regional and sub-regional shopping centres and retail outlet centres across Australia. Its stock market trading code is CFX. The Trust is managed on behalf of more than 18,000 investors from 24 countries.

About Colonial First State Global Asset Management (CFSGAM)

CFSGAM is the consolidated asset management arm of Commonwealth Bank of Australia (the 'Bank'), and sits within the Bank's Wealth Management division. Entities within CFSGAM provide management services to the Trust. CFSGAM Property is a fully integrated real estate investment business with approximately $18 billion in funds and assets under management, employing more than 850 people across Australia and New Zealand.

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