FCOT – SGX

FCOT achieves an 82% increase in distributable income for 2Q DPU up 78%; total distributable income (including CPPU) up 167%

Singapore – 22 April 2010 – Frasers Centrepoint Asset Management (Commercial) Ltd (“FCAMCL” or the “Manager”), the manager of Frasers Commercial Trust (“FCOT”, SGX:FrasersComm) is pleased to announce the Trust’s financial results for the second quarter ended 31 March 2010.

Operationally, for the financial quarter, 1 January 2010 to 31 March 2010 (2Q FY09/10), gross revenue and net property income are respectively 24% and 26% above those of the same period last year.

Total distributable income was up by 167% year-on-year from S$5.42 million to S$14.48 million, of which S$4.65 million is available for distribution to Series A Convertible Perpetual Preferred Units (“CPPU”) holders.

Distributable income to Unitholders increased by 82% to S$9.84 million. This translates to distribution per Unit of 0.32 cents, up by 78% from a year earlier and by 33% when compared to the preceding quarter.

A total distribution of 0.56 cents per Unit and 2.74 cents per CPPU for the first half FY09/10 will be paid on 27 May 2010. Based on the last closing price of the Units of $0.14 on 22 April 2010, this translates to an annualised yield of 8.0%. CPPU holders who hold the CPPUs transferred to them as at books closure date will receive a pro-rata distribution of 0.3466 cents per CPPU for the period from 9 March to 31 March 2010(1). The distribution books closure date for both the Units and CPPUs is 3 May 2010.

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