Background

Westfield announced the Westfield Group merger in May 2004. Westfield America Trust unit holders could either:

• elect to participate in a sale facility, under which they exchanged their units for either:
• • cash, or
  • Westfield Group stapled securities
     
   
• participate in the stapling distributions and have their units stapled to Westfield Holdings shares and Westfield Trust units.

The Westfield Group merger was completed on 16 July 2004.