Cambridge Industrial Trust Management Limited (the “Manager”), the Manager of Cambridge Industrial Trust (“CIT”), is pleased to announce that CIT’s trustee, on behalf of CIT, has entered into a facility agreement with the Hongkong and Shanghai Banking Corporation Limited (“HSBC”) for a revolving credit facility (the “Revolving Facility”) up to an aggregate of S$100 million. The Revolving Facility has a term of two years.

Interest payable on the Revolving Facility will be a margin above the Singapore Dollar Swap Offered Rate (“SOR”) with interest periods of one, two, three or six months at the option of CIT.

Mr Ang Poh Seong, Chief Executive Officer of the Manager, said “We are delighted to have concluded this debt transaction. This facility provides CIT with the capital to continue its track record of accretive acquisitions.

“The terms and pricing of this facility demonstrate the success of CIT’s prudent capital management strategy and the benefits of pursuing multiple sources of funding to mitigate the risk of capital market disruption”.

The facility is secured by the six properties in Singapore acquired by CIT in its successful October 2007 Equity Fund Raising, namely:

• 1 Tuas Avenue 3
• 7 Ubi Close
• 9 Bukit Batok Street 22
• 120 Pioneer Road
• 120 Strata Units in 48 Toh Guan Road East, Enterprise Hub
• 23 Woodlands Terrace

The facility will be used to fund the acquisition of future properties for CIT, including the two properties currently under option, namely 6 Tuas Bay Walk and 21B Senoko Loop , as well as for working capital purposes.

The facility is in addition to CIT’s existing debt facilities, which are a revolving term loan facility of S$390 million provided by Orchid Funding (Singapore) Limited and an overdraft facility of S$10 million provided by ABN AMRO Bank N.V., Singapore Branch. The Manager’s intention in the medium term is to refinance both the existing facilities and the Revolving Facility with a Commercial Mortgage Backed Securities program (“CMBS”) or other long term financing structure, subject to market conditions.

Standard and Poor’s Ratings Services affirmed CIT’s ‘BBB-‘ credit rating on 12 December 2007, and upgraded their outlook from “Neutral” to “Positive”.