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November 26, 2014
REIT Issuer
Ichigo Real Estate Investment Corporation (8975)
1-1-1, Uchisaiwaicho, Chiyoda-ku, Tokyo
Representative: Yoshihiro Takatsuka, Executive Director
Asset Management Company
Ichigo Real Estate Investment Advisors Co., Ltd.
Representative: Wataru Orii, President & Representative Statutory Executive Officer
Inquiries: Minoru Ishihara, Executive Vice President & Statutory Executive Officer
Tel: 03-3502-4891

Issue Price for New Share Issuance and Over-Allotment
Ichigo Real Estate Investment Corporation (“Ichigo REIT”)’s Board of Directors has
determined the issue price and other matters regarding the issuance of new shares and theoffering of existing shares as announced on November 14, 2014.
1. Issuance of New Shares through Public Offering (General Offering)(1) Issue price (offer price):(2) Total issue price (total offer price):(3) Paid-in amount (issue amount):(4) Total paid-in amount (total issue amount):(5) Subscription period:(6) Payment date:(7) Delivery date:

83,167 yen per share
7,957,418,560 yen
80,266 yen per share
7,679,850,880 yen
November 27, 2014 to November 28, 2014
December 3, 2014
December 4, 2014

(Note) The underwriters will use the paid-in amount (issue amount) to underwrite the shares at
the issue price (offer price).
2. Secondary Share Offering (Over-Allotment Option)(1) Number of shares to be offered:(2) Offer price:(3) Total offer price:(4) Subscription period:(5) Delivery date:

8,320 shares
83,167 yen per share
691,949,440 yen
November 27, 2014 to November 28, 2014
December 4, 2014

Disclaimer: This translation is for informational purpose only. If there is any discrepancy between the Japanese version and the English translation, the Japanese version shallprevail. This document is an English translation of a press release for public announcement regarding the issuance of new investment units and secondary offeringof investment units by Ichigo Investment Corporation, and has not been prepared for the purpose of solicitation of investment. We caution investors to refer to theInvestment Corporation's prospectus and notice of amendments thereto, if any, without fail and to undertake investment at their own decision and responsibility.

13. New Shares to be Offered to the Underwriter by Way of Third-Party Allotment(1) Paid-in amount (issue amount)(2) Total paid-in amount (total issue amount):(3) Subscription period (subscription date):(4) Payment date:

80,266 yen per share
667,813,120 yen (maximum)
December 22, 2014
December 24, 2014

(Note) All new shares hereunder not subscribed to on or before the subscription period(subscription date) will be cancelled.
Reference:
1. Calculation of Issue Price and Secondary Offering Price(1) Calculation date:(2) Share price as of the calculation date (closing price):(3) Discount rate:

November 26, 2014
85,300 yen
2.5 %2. Syndicated Cover Transaction Period
November 29, 2014 to December 18, 2014
3. Use of Proceeds
Ichigo REIT will use the proceeds (7,679,850,880 yen) from the public offering to acquire theassets specified in the November 14, 2014 release “Asset Acquisitions and Sales.” Furthermore,
all proceeds (up to a maximum of 667,813,120 yen) Ichigo REIT receives from the third-party
allotment will be used for debt repayment. Any remaining funds will be kept as cash-on-handand used for future debt repayment.
(Note) All proceeds will be held at a financial institution until disbursement.

Website of Ichigo REIT: www.ichigo-reit.co.jp/english

Disclaimer: This translation is for informational purpose only. If there is any discrepancy between the Japanese version and the English translation, the Japanese version shallprevail. This document is an English translation of a press release for public announcement regarding the issuance of new investment units and secondary offeringof investment units by Ichigo Investment Corporation, and has not been prepared for the purpose of solicitation of investment. We caution investors to refer to theInvestment Corporation's prospectus and notice of amendments thereto, if any, without fail and to undertake investment at their own decision and responsibility.

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