OXLEY GROUP ACQUIRES STRATEGIC STAKE IN CAMBRIDGE INDUSTRIAL TRUST MANAGEMENT

Singapore, 20 February 2008 – Cambridge Industrial Trust Management Pte Ltd (“CITM”) wishes to announce that Oxley Group (“Oxley”) has acquired an effective 20 percent interest in CITM by acquiring 33 percent of the equity in Cambridge Real EstateInvestment Management (“CREIM”). CREIM holds a majority stake of 60 per cent ofCITM.

CITM is the manager of Cambridge Industrial Trust (“CIT”), which is the first independent industrial REIT to be listed on the Stock Exchange of Singapore with a market capitalization of approximately S$ 552 million and total assets of S$ 949.8 million.

Oxley’s interest was acquired from Mr Chan Wang Kin, who has sold his entire 28 percent stake in CREIM to Oxley. Oxley has acquired an additional 5 percent from Mr Ang Poh Seong, CEO of CITM. Mr Ang retains a 20 percent stake in CREIM.

With the sale of his interest in CREIM, Mr Chan Wang Kin will cease to be a director of CREIM and CITM Mr Ang welcomed Oxley as a strategic shareholder of CREIM adding, “We are excited
with this new development particularly in light of the regional networking and depth of experience that Oxley will bring to this partnership.”

“We are delighted with this transaction and look forward to working with the management of CITM to further develop CIT as a leading player in the Asian Industrial Property space.” said Michael Dwyer, Executive Chairman of Oxley.