Mapletree buys Japanese logistic properties for S$200 million

Singapore, (July 28, 2010) – Temasek controlled Mapletree Logistics Trust Management Ltd. (“MLTM”), as Manager of
Mapletree Logistics Trust ,has signed a preliminary agreement with Kabushiki Kaisha A-Max (“A-Max”) to acquire three major properties worth S$200 million in Japan.


The three properties are (a) Iwatsuki Logistics Centre: a distribution centre with ancillary office located in Iwatsuki, Saitama Prefecture with gross floor area (“GFA”) of 30,000 sqm.
(b) Iruma Logistics Centre: a distribution centre with ancillary office with GFA of 26,000
sqm, located in the city of Iruma, Saitama Prefecture; and
(c) Noda Logistics Centre: a distribution centre with ancillary office with GFA of 36,000
sqm, located in the city of Noda, Saitama Prefecture.

The buyer will pay 13 billion yen or about S$200 million to the vendor, A-Max, is a logistics facilities development and
management company.

This acquisition will be the sixth announced since December last year bringing the total acquisitions announced and/or completed to date to about S$ equivalent of $430 million. With the completion of all these acquisitions, MapletreeLog will have a portfolio value of approximately S$3.3 billion.

The manager believes that the acquisition will have significant benefits for unit holders as they yield attractive net property income and provides stables leases with quality customers and long leases. They are quality properties in good locations and dividend per unit accretive.


Richard Lai, the recently promoted chief executive officer of MLTM, said, “We are very pleased that these properties will be added into MapletreeLog’s diversified portfolio of assets. The stable income stream from
these properties will provide further certainty and stability in cashflow for MapletreeLog, adding to
the Trust’s stable core of long-term leases which generate stable returns for our unitholders.
We are pleased to welcome Oji and Izu both, major logistics operators in Japan, into our family of
customers. We look forward to a long and mutually beneficial relationship as we work together to
help them grow locally as well as overseas.”


He said the Japanese logistics market remains attractive as it has breadth and depth which is currently
unmatched in Asia. “

We will continue to expand our portfolio in Japan by selectively acquiring yieldaccretive
logistics assets of good quality and location. ‘’


MapletreeLog said it has sufficient financial flexibility and capacity to fund the acquisition which is
expected to be completed by end 3Q 2010. The purchase price and other acquisition costs of the
Properties will be fully funded by debt, which will bring MapletreeLog’s gearing level to 43.6 per cent, after
taking into account all acquisitions announced to date.