REIT Financial News - ISSUE OF 666,703,965 NEW UNITS IN K-REIT ASIA

UNDERWRITTEN RENOUNCEABLE RIGHTS ISSUE - ISSUE OF 666,703,965 NEW UNITS IN K-REIT ASIA - see report

USE OF PROCEEDS FROM THE UNDERWRITTEN RENOUNCEABLE RIGHTS ISSUE - see report

• 666,703,965 new units issued today, bringing the total number of units in K-REIT Asia in issue to 1,336,023,351
• A total of 9,324,716 Rights Units which were not validly accepted were allotted to satisfy excess applications. No Excess Rights Units were allotted to Substantial Unitholders, including Keppel Corporation Limited and Keppel Land Limited and their respective wholly-owned subsidiaries, or directors of the Manager.
• The Rights Units will be listed and quoted on the Main Board of Singapore Exchange Securities Trading Limited with effect from 9.00 a.m. on 23 November 2009.
• Out of the net proceeds of approximately S$616.0 million from the Rights Issue, S$99.7 million has been used today to fully repay a bridging loan facility of S$110.0 million from Kephinance Investment Pte Ltd which was partially drawn down on 2 November 2009 for the purpose of financing the acquisition of levels 20 to 25 of the property known as “Prudential Tower”