Address

65 Ubi Avenue 1

Type / Use Light Industrial Park
Title

Leasehold estate, expiring 2057

Acquisition Date

20 June 2003

Net Lettable Area 15,068 sqm
Book Value (1) $36.7 million
Purchase Price

$35.0 million

Vendor

OSIM International Pte Ltd

Valuation (2) $37.0 million
Major Tenants

OSIM International Ltd

Notes:

(1) As at 31 May 2004
(2) As at 1 June 2004 . The valuation was based on the Income Method, Direct Comparison Method, Replacement Cost Method & Discounted Cash Flow Analysis