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BTO: Prices $150m Medium Term Notes Issue

Document date:  Tue 09 Apr 2002
Published:  Tue 09 Apr 2002 00:00:00
Document No:  260931
Document part:  A
Market Flag:  N
Classification: 

BT OFFICE TRUST                               2002-04-09  ASX-SIGNAL-G

HOMEX - Sydney                                                        

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BT Funds Management Limited as Responsible Entity for BT Office Trust
wishes to advise that it has priced an A$150 million MTN issue. The
MTN issue is the second issue under BTO's A$1 billion combined CP and
MTN program.

The notes will mature 15 November 2006 and are priced at 65 basis
points over 15 November 2006 swap mid-rate. The entire issue will be
fixed.

BTO will use the proceeds form the issue to repay existing bank debt.

A media release is attached.

For further information, please contact Tim Russell (02 9259 3252).

T Russell 
BTO INVESTMENT MANAGER


MEDIA RELEASE

BT OFFICE TRUST PRICES A$ MTN VIA ANZ INVESTMENT BANK AND DEUTSCHE
BANK

Joint Lead Managers ANZ Investment Bank and Deutsche Bank AG
announced today the launch of an A$150 million Medium Term Note
issue by BT Funds Management as the responsible entity for BT Office
Trust ("BTO").

The issue fixed rate notes due 15th November 2006 were priced at 
swap +65 bps.

Lead Managers to the issue were ANZ Investment Bank and Deutsche
Bank. Merrill Lynch and UBS Warburg were co-managers on the
transaction. The notes will settle on 12th April 2002.

BTO is rated A- by Standard & Poor's.

BTO launched its inaugural issue of A$120 million fixed rate notes
due September 2004 from its domestic Medium Term Note Programme which
was established in September last year.


For Further Information:

ANZ INVESTMENT BANK                   DEUTSCHE BANK AG
Siong Ooi/ Amanda Nicol               Kate Stewart
+ 612 9227 1380/ 9226 6905            + 612 9258 1433 

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