Where capitalised terms are used in this announcement and not otherwise defined, such capitalised terms shall bear the same meanings as ascribed to them in the announcements made by Allco Commercial Real Estate Investment Trust (“Allco REIT”) on 25 May 2007 and 26 June 2007 and the Circular dated 26 June 2007.

1. RESULTS OF THE RIGHTS ISSUE
1.1 Level of Subscription

Details of the valid acceptances and excess applications for Rights Units received are as follows:
(i) valid acceptances were received for a total of 193,536,712 Rights Units, representing approximately 97.4% of the total number of Rights Units available under the Rights Issue; and
(ii) excess applications were received for a total of 40,442,155 Rights Units, representing approximately 20.3% of the total number of Rights Units available under the Rights Issue (“Excess Rights Units Applications”).

Allco Singapore Investments Pte. Ltd. (“ASI”), a Substantial Unitholder, accepted its Rights Entitlement of 29,400,000 Rights Units. ASI did not apply for any Excess Rights Units.

Based on the total number of Units in issue as at the Books Closure Date, 198,749,242 Rights Units will be issued pursuant to the Rights Issue.

1.2 Allocation of Rights Units for Excess Rights Units Applications

The Rights Units represented by the provisional allotments of:
(i) Eligible Unitholders who did not renounce or trade their Rights Entitlements and
did not accept all or part of their Rights Entitlements;
(ii) Ineligible Unitholders; and/or
(iii) Purchasers who did not, for any reason, accept the Rights Entitlements, and disregarded fractions of Rights Units, amounting in aggregate to 5,212,530 Rights Units, will be used to satisfy Excess Rights Units Applications or otherwise dealt with in such manner as the Directors may, in their absolute discretion, deem fit in the interests of Allco REIT, provided that in the allotment of Excess Rights Units, preference will be given to the rounding of odd lots, and Substantial Unitholders and Directors will rank last in priority.

2. ALLOTMENT OF RIGHTS UNITS

CDP will send notification letters, on or about 23 July 2007, to Eligible Unitholders with valid acceptances and successful applications for Excess Rights Units by ordinary post, at their own risk, to their mailing addresses in Singapore as maintained with CDP, stating the number of Rights Units that have been credited to their Securities Accounts.

In relation to any void acceptances of Rights Units or any unsuccessful applications for Excess Rights Units, all monies received in connection therewith will be returned by CDP on behalf of Allco REIT to the Eligible Unitholders, their renouncees or the Purchasers, as the case may be, without interest or any share of revenue or other benefit arising therefrom, within fourteen (14) days after the Closing Date, by crediting their accounts with the relevant Participating Banks (where acceptance is through Electronic Application) or by ordinary post (where acceptance and/or application is through CDP) and at the Eligible Unitholders’ or their renouncees’ or the Purchasers’ own risk.

3. CLOSING AND LISTING

3.1 Closing
The Manager expects that 198,749,242 Rights Units will be issued pursuant to the Rights Issue on or about 20 July 2007.

3.2 Listing and Quotation
The Manager further expects that the Rights Units will be listed and quoted on the Official List of the SGX-ST with effect from 9.00 a.m. on or about 23 July 2007.

The Manager wishes to take this opportunity to thank Unitholders for their support in ensuring the successful completion of the Rights Issue.