First Reit – SGX

First REIT’s 2Q 2009 distributable income up 1.5% to S$5.3 million
 DPU for the period increased 0.5% to 1.92 cents per unit
 Annualised DPU of 7.66 Singapore cents translates to distribution yield of 11.3%
 Resilient revenue structure
 Low debt-to-property valuation ratio at 15.6%

SINGAPORE – 23 July 2009 – Bowsprit Capital Corporation Limited (“Bowsprit”), the Manager of First Real Estate Investment Trust (“First REIT”), Singapore‟s first healthcare real estate investment trust, today announced that its distributable income for the three months ended 30 June 2009 (“2Q 2009”) rose 1.5% to S$5.3 million.

The latest quarterly results confirm First REIT‟s resilient rental revenue structure. First REIT‟s distribution per unit (“DPU”) also rose 0.5% to 1.92 Singapore cents. Based on its closing price of S$0.675 on 21 July 2009 and the annualised DPU of 7.66 Singapore cents, First REIT registered a distribution yield of 11.3% at the end of the period.