Justin Nelson has been appointed as joint company secretary of Agricultural Land Trust. Mr. Nelson has extensive experience in the listed company environment in his previous position as ASX's State Manager, SA and Manager, Listings (Adelaide).

Agricultural Land Trust reported audited parent and consolidated earnings results for the year ended June 30, 2012. The group's net loss attributable to unit holders of the Trust for the year was AUD 10.6 million or 10.73 cents against profit attributable to unit holders of the Trust of AUD 2.5 million or 2.68 cents reported in the same period last year. The net los resulted solely from reductions in the values of the Trust's investment properties of AUD 13.8 million. Revenue was AUD 10 million against AUD 10 million, net loss from continuing operations was AUD 10.6 million against net profit from continuing operations of AUD 2.5 million reported last year. Basic and diluted loss per unit from continuing operations was 10.72 cents against basic and diluted profit per unit from continuing operations of 2.73 cents reported last year. Net cash flows from operating activities were AUD 3.2 million against AUD 2.1 million reported last year. For the year, the parent company reported profit of AUD 3.3 million against AUD 2.6 million reported in the same period last year. A first and final distribution of 3.18 cents per unit has been declared and will be paid on October 8, 2012. The total distribution for the year of 3.18 cents per unit increased 30% from 2.45 cents per unit declared in the prior period. The distribution represents a distribution of taxable income and does not contain any tax free or tax deferred components.

The directors of Agricultural Land Management Ltd. advised that the Agricultural Land Trust has extended its syndicated debt facilities until July 31, 2013. The extension of the facilities will result in the syndicated financier margin being maintained. The extension is subject to conditions in relation to the divestment of certain assets in an orderly manner with proceeds to be used to repay debt. An independent corporate finance advisor has been appointed by the Trust to assist in this regard. The Trust continues to derive positive cash flows from operations as a result of its unique leasing arrangements and it remains the Trust's intention to pay the distribution announced on June 20, 2012. As previously advised the actual distribution amount will be considered at a board meeting of Agricultural Land Management Ltd. scheduled for August 16, 2012.