APPLICATION FOR THE LISTING OF NEW UNITS

MacarthurCook Investment Managers (Asia) Limited, as manager of MacarthurCook Industrial REIT (“MI-REIT”, and manager of MI-REIT, the “Manager”), wishes to announce that under the proposed equity fund raising described in MI-REIT’s announcement dated 21 December 2007 (the “Equity Fund Raising”), it currently intends to raise gross proceeds of indicatively up to S$200.0 million based on current market conditions and funding requirements. This figure is subject to change at the Manager’s absolute discretion.

The issue price of the new units in MI-REIT (the “New Units”) under the Equity Fund Raising will be determined after an accelerated book building process and will be announced by the Manager when fixed. The issue price of New Units is expected to be at no more than a 10.0% discount to the volume weighted average price for trades of units in MI-REIT (“Units”) done on Singapore ExchangeSecurities Trading Limited (the “SGX-ST”) for the full market day on which the purchase agreement in relation to the Equity Fund Raising is signed. If the trading of the Units is not available for a full market day, the volume weighted average price will be based on the trades done on the preceding market day up to the time the purchase agreement is signed.

Source : SGX