NEWS RELEASE

Japan Real Estate Investment CorporationJanuary 13, 2010
To whom it may concern:<Investment Corporation>
Japan Real Estate Investment Corporation
Taketo Yamazaki, Executive Director(TSE code: 8952)<Asset Management Company>
Japan Real Estate Asset Management Co., Ltd.
Kazuhiko Arahata, CEO & President
Contact: Toru Kimura, General Manager, Planning Department
Phone: +81-3-3211-7921

Notice concerning New Loan
Announcement is hereby made that on January 13, 2010, Japan Real Estate Investment Corporation willprocure funds through the following loans.

1. Reason for drawing down of the loans
To apply part of the funds toward the purchase of trust beneficiary right (quasi-co-ownership) in trustof domestic real estate (Shiodome Building) announced on November 18, 2009
2. Details of loans<Short-term loan >(1) Amount of loan:(2) Lender:(3) Interest rate:(4) Start of the loan period:(5) Borrowing method:(6) Interest payment date:(7) Repayment of principal:(8) Principal repayment date:¥3,000 million
The Sumitomo Trust & Banking Co., Ltd.
0.5627% (from January 15, 2010 to February 14, 2010)
January 15, 2010
Loan agreement concluded on January 13, 2010
Unsecured/non-guaranteed loan
15th of every month until the principal repayment date
Payment in full on the principal repayment date
January 17, 2011 (pre-payment possible)<Long-term loan (ⅰ)>(1) Amount of loan:(2) Lender:(3) Interest rate:(4) Start of the loan period:(5) Borrowing method:(6) Interest payment date:(7) Repayment of principal:(8) Principal repayment date:<Long-term loan (ⅱ) >(1) Amount of loan:(2) Lender:(3) Interest rate:(4) Start of the loan period:(5) Borrowing method:(6) Interest payment date:(7) Repayment of principal:(8) Principal repayment date:<Long-term loan (ⅲ) >(1) Amount of loan:(2) Lender:(3) Interest rate:(4) Start of the loan period:(5) Borrowing method:(6) Interest payment date:(7) Repayment of principal:(8) Principal repayment date:<Long-term loan (ⅳ) >(1) Amount of loan:(2) Lender:(3) Interest rate:(4) Start of the loan period:(5) Borrowing method:¥11,000 million
The Bank of Tokyo-Mitsubishi UFJ, Ltd.
1.085%(fixed)
January 15, 2010
Loan agreement concluded on January 13, 2010
Unsecured/non-guaranteed loan
15th of July and January of every year until the principal
repayment date (including the principal date)
Payment in full on the principal repayment date
January 15, 2013 (pre-payment possible)¥5,000 million
Mizuho Corporate Bank, Ltd.
1.135%(fixed)
January 15, 2010
Loan agreement concluded on January 13, 2010
Unsecured/non-guaranteed loan
15th of July and January of every year until the principal
repayment date (including the principal date)
Payment in full on the principal repayment date
January 15, 2013 (pre-payment possible)¥5,000 million
Mitsubishi UFJ Trust and Banking Corporation
1.135%(fixed)
January 15, 2010
Loan agreement concluded on January 13, 2010
Unsecured/non-guaranteed loan
15th of July and January of every year until the principal
repayment date (including the principal date)
Payment in full on the principal repayment date
January 15, 2013 (pre-payment possible)¥5,000 million
Shinkin Central Bank
1.135%(fixed)
January 15, 2010
Loan agreement concluded on January 13, 2010
Unsecured/non-guaranteed loan(6) Interest payment date:(7) Repayment of principal:(8) Principal repayment date:<Long-term loan (ⅴ) >(1) Amount of loan:(2) Lender:(3) Interest rate:(4) Start of the loan period:(5) Borrowing method:(6) Interest payment date:(7) Repayment of principal:(8) Principal repayment date:<Long-term loan (ⅵ) >(1) Amount of loan:(2) Lender:(3) Interest rate:(4) Start of the loan period:(5) Borrowing method:(6) Interest payment date:(7) Repayment of principal:(8) Principal repayment date:

15th of July and January of every year until the principal
repayment date (including the principal date)
Payment in full on the principal repayment date
January 15, 2013 (pre-payment possible)¥1,000 million
The Iyo Bank, Ltd.
1.06%(fixed)
January 15, 2010
Loan agreement concluded on January 13, 2010
Unsecured/non-guaranteed loan
15th of July and January of every year until the principal
repayment date (including the principal date)
Payment in full on the principal repayment date
January 15, 2013 (pre-payment possible)¥1,000 million
The Hachijuni Bank, Ltd.
1.06%(fixed)
January 15, 2010
Loan agreement concluded on January 13, 2010
Unsecured/non-guaranteed loan
15th of July and January of every year until the principal
repayment date (including the principal date)
Payment in full on the principal repayment date
January 15, 2013 (pre-payment possible)3. Balance of interest-bearing debt after the new loan agreement (as of January 15, 2010)(Units: millions of yen)
Before new loans

After new loans

Increase/Decrease

Short-term loans

27,00030,000+3,000Current portion of long-term loans17,000

17,000±0Long-term loans

120,500

148,500+28,000

Total loans

164,500

195,500+31,000

10,00010,000±035,000

35,000±045,000

45,000±0209,500

240,500+31,000

Current portion of investment
corporation bonds
Investment corporation bonds(except for current portion)
Total investment corporation
bonds
Total interest-bearing debt

4. Others
Regarding the loan repayment risk, there is no important change to the “Investment risks” description
in the latest securities report submitted on December 25, 2009.

We will inform you of the interest rate for the short-term loan of ¥3,000 million on and after February 15,
2010 once it has been decided.

This notice is the English translation of the announcement in Japanese dated January 13, 2010 on ourwebsite. However, no assurance or warranties are given for the completeness or accuracy of this Englishtranslation.