August 29, 2018
For Immediate Release
Real Estate Investment Trust Securities Issuer
Star Asia Investment Corporation
Representative: Atsushi Kato, Executive Director(Code: 3468)
Asset Management Company
Star Asia Investment Management Co., Ltd.
Representative: Atsushi Kato
President and CEO
Contact: Toru Sugihara
Director and CFO
TEL: +81-3-5425-1340

Notice Concerning Determination of Prices and Other Conditions with Regard to Issuance ofNew Investment Units and Secondary Offering of Investment UnitsStar Asia Investment Corporation (“SAR”) announces that at the Board of Directors meeting held today, SAR
determined the offer price and other conditions concerning issuance of new investment units and secondaryoffering of investment units of SAR that were approved at the Board of Directors meeting held on August 21,
2018, as described below.
1. Issuance of new investment units through public offering (primary offering)(1)
Paid-in amount (issue
98,480 yen per unit
amount):(2)

Total paid-in amount (total

6,584,077,360 yen

issue amount):(3)

Issue price (offer price):

101,985 yen per unit

(4)

Total issue price (total offer 6,818,411,145 yen
price):(Note) The underwriters shall underwrite the investment units at the paid-in amount (issue amount) and publicly offer
the investment units at the issue price (offer price).

2. Secondary offering of investment units (over-allotment)(1)
Total number of
3,343 units
investment units to beoffered:(2)

Offer price:

101,985 yen per unit

(3)

Total offer price:

340,935,855 yen

Note:This press release does not in any way constitute any part of an offering of securities for investment. Thispress release has been prepared for the purpose of announcing to the public certain matters relating to theissuance of new investment units and secondary offering of investment units, and not for the purpose ofsoliciting any investment, within or outside of Japan. Additionally, this press release is not an offer ofsecurities for sale in the United States. The securities referred to herein have not been, and will not beregistered under the United States Securities Act of 1933, as amended (the “Securities Act”) and may not be
offered or sold in the United States absent registration or an exemption from registration under the Securities
Act. No offering or sale of securities in the United States will be made in connection with the abovementioned transactions. This press release is not for publication, distribution or release, directly or indirectlyin or into the United States of America.

13. Issuance of new investment units through third-party allotment(1)
Paid-in amount (issue
98,480 yen per unit
amount):(2)

Total paid-in amount (total

329,218,640 yen

issue amount) (maximum):(Note) If there is no application for subscription of all or a part of the investment units, the issuance of such
unsubscribed investment units shall be cancelled.

<Reference>
1. Calculation of offer prices(1)Calculation date and price:

August 29, 2018

104,600 yen(Wednesday)(2)

Discount rate:

2.50%

2. Total number of investment units to be offered in the primary offering
66,857 units
3. Use of the funds to be procured
Net proceeds from the primary offering will be appropriated to a portion of the acquisition of properties to beacquired as noted in “Notice Concerning Acquisition and Transfer (Asset Replacement) of Real Estate BeneficiaryInterests in Trust,” which was released on July 23, 2018 and the accompanying “Notice Concerning Determinationof the Planned Acquisition Date and Change of the Funds for Acquisition” which was released on August 21, 2018,as well as the properties noted in “Notice Concerning Acquisition and Lease Contract with New Tenants, andTransfer of Real Estate Beneficiary Interests in Trust” which was also released on August 21, 2018. Further, the net
proceeds from the third-party allotment will be appropriated to a portion of the repayment of borrowings.
* Star Asia Investment Corporation website address: http://starasia-reit.com/en/

Note:

This press release does not in any way constitute any part of an offering of securities for investment. Thispress release has been prepared for the purpose of announcing to the public certain matters relating to theissuance of new investment units and secondary offering of investment units, and not for the purpose ofsoliciting any investment, within or outside of Japan. Additionally, this press release is not an offer ofsecurities for sale in the United States. The securities referred to herein have not been, and will not beregistered under the United States Securities Act of 1933, as amended (the “Securities Act”) and may not beoffered or sold in the United States absent registration or an exemption from registration under the Securities
Act. No offering or sale of securities in the United States will be made in connection with the abovementioned transactions. This press release is not for publication, distribution or release, directly or indirectlyin or into the United States of America.

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