Stockland Direct Office Trust No. 3

Stockland Direct Office Trust No. 3 was established in April 2007 to acquire four commercial properties and a CBD car park. The Trust's five properties are valued at $135.4 million and are well located within metropolitan areas in Australia.

The Trust aims to provide regular distributions with the opportunity for capital growth.

Highlights:

• Seek Limited expanded at 541 St Kilda Road, Melbourne;
• Distributions in line with revised Product Disclosure Statement forecasts; and
• 10.7% total return for the year to 30 June 2008.

Additional ongoing disclosures required under ASIC Regulatory Guide 46 will be available from this website by 30 November 2008.

Download the 30 June 2008 Investment Report
Download the 31 December 2007 Investment Report
Download the 30 June 2007 Investment Report

SDOT3 is an unlisted property fund with a limited secondary market provided by a Limited Liquidity Facility ("LLF"). This facility provides investors with the opportunity to sell their units each quarter based on the latest net tangible assets of SDOT3 as published in the accounts, less the aggregate of a 2.5% discount and any transaction costs.

As at 30 June 2008, the SDOT3 Net Tangible Asset (NTA) backing for each unit is $0.88.

If you need to change your address, bank account details, Tax File Number or Australian Business Number, please advise the registrar in writing and quote your Holder Identifier Number (if any).

Computershare Investor Services Pty Ltd
G.P.O. Box 2975
Melbourne VIC 3001
Telephone: 1300 855 080.

Alternatively you may use your unique Holder Identifier Number to change details by visiting www.computershare.com.au.

If you are unsatisfied with our services or have a complaint in relation to your fund you may wish to write to Stockland Capital Partners Limited at Level 25, 133 Castlereagh Street, Sydney 2000 Australia, Phone: (02) 9035 2000  Fax: (02) 8988 2000.

Your complaint will be acknowledged within 14 days of receipt and investigated with a view to reporting back to you within 45 days. We will attempt to resolve all complaints within 21 days.

Where a complaint remains unresolved, you may be entitled to take your complaint to our nominated external complaints resolution body, Financial Ombudsman Services (FOS).

The Financial Ombudsman Services (FOS) independently and impartially resolves disputes between consumers, including some small businesses, and participating financial services providers.

You will not be charged for using the service and your dispute will be handled as fairly and quickly as possible. FOS can be contacted on 1300 78 08 08 or email info@fos.org.au.

Where a unitholder has identified a willing purchaser for their units, they may transfer their units by submitting the Transfer Form. When no willing purchaser has been identified, the unitholder may transfer their units under the Limited Liquidity Facility ("LLF") of SDOT3.

Please note applications are processed on an 'order of receipt' principle. The maximum number of units processed each quarter will not exceed 1,000,000.

If you would like to participate in the Limited Liquidity Facility ("LLF") for the quarter ending 31 December  2008. Please complete the LLF form and submit it to Stockland by Tuesday 9 December 2008.

For further information regarding the LLF please contact our Client Relations Manager, Michael Radziowsky, on 02 9035 3208.