KLSE-Company Announcement:Proposed Acquisition & Leaseback Of A Leasehold Industrial Property From Niro Ceramic (M) Sdn Bhd For RM14.50 Million

Proposed Acquisition by Axis Real Estate Investment Trust (“Axis-REIT” or the “Fund”) of a leasehold industrial property comprising a single storey warehouse building with a 3-storey office together with guard house and ancillary buildings with a gross built-up area of approximately 171,000 sq.feet held under Title No. H.S.(D) 330804 PTD 163163 in the Mukim of Plentong District of Johor Bahru, State of Johor measuring approximately 2.4305 hectares (the “Property”) which 60 years’ leasehold tenure will be expiring on 29 March 2051, from Niro Ceramic (M) Sdn Bhd (No. 169869-M) for a total lump sum cash consideration of RM 14.5 Million (“Proposed Acquisition of the Property”) & lease back to Niro Ceramic (M) Sdn Bhd (“Proposed Acquisition & Lease Back of the Property”).

(31-1-2008 KLSE)