October 7, 2013
To All Concerned Parties
Name of REIT Issuer:
Invincible Investment Corporation
Naoki Fukuda, Executive Director
Roppongi Hills Mori Tower, 6-10-1 Roppongi,Minato-ku, Tokyo, Japan(Securities code: 8963)
URL: http: //www.invincible-inv.co.jp/eng/
Asset manager:
Consonant Investment Management Co., Ltd.
Naoki Fukuda, President and CEO
Contact: Akiko Watanabe, Manager(Tel. +81-3-5411-2731)

Notice concerning Acquisition of Treasury Shares andChange of Shareholder of Asset Manager
Invincible Investment Corporation (INV) has announced that its asset manager, ConsonantInvestment Management Co., Ltd. (hereinafter, the “Asset Manager”), has today reached anagreement with a shareholder of the Asset Manager to acquire the shares of the AssetManager held by the shareholder as stated below.
Details
1. Details of acquisition of treasury shares(1) Type of shares to be acquired(2) Total number of shares to be acquired(3) Scheduled acquisition date(4) Shareholder

Common shares of the Asset Manager
228 shares (Note)
October 8, 2013
BIG CO., LTD.

(Note) All of the acquired treasury shares will be cancelled as of the acquisition date.

2. Reason for acquisition of treasury shares
The Asset Manager shall acquire all of the 228 shares (hereinafter, “Acquisition of TreasuryShares”) (2.65%) (Note) held by BIG CO., LTD. (hereinafter, “BIG”), the shareholder of the AssetManager, in order to further strengthen the cooperation with Calliope Godo Kaisha (an affiliate ofFortress Investment Group LLC; hereinafter, “Calliope”), the sponsor of the Asset Manager, andthe support by Calliope toward INV.
As a result of the Acquisition of Treasury Shares, the Asset Manager will become a wholly owned
subsidiary of Calliope.
(Note) As announced in the press release titled “Notice concerning Change of Stockholders of Asset Manager” dated
July 15, 2011, 8,372 shares (97.35%) of the outstanding shares of the Asset Manager (8,600 sharesoutstanding in total) have been acquired by Calliope on July 29, 2011, and the remaining 228 shares (2.65%)
have been held by BIG.

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3. Schedule of acquisition of treasury shares
October 7, 2013:
Resolution concerning the Acquisition of Treasury Shares at theboard of directors’ meeting of the Asset Manager and conclusion ofsales agreement on share acquisition
October 8, 2013
:Approval for the Acquisition of Treasury Shares by resolution at theextraordinary shareholders’ meeting of the Asset Manager(scheduled)
Execution of Acquisition of Treasury Shares (scheduled)
4. Future outlook
The “Support (Provision of Information) Agreements on Real Estate Acquisitions, etc.” concluded
between BIG and INV and the Asset Manager as of November 8, 2005 and the “Master Lease
Agreement and Property Management Agreement” (Note) concluded between BIG SERVICE
CO., LTD. (hereinafter, “BIG SERVICE”), which is a subsidiary of BIG, and INV, will both becontinued.
The Acquisition of Treasury Shares will have no effect on INV’s business and performance. Inaddition, INV believes that there will be no issues in the Asset Manager’s operations after
considering details such as the financial standing and status of cash on hand of the AssetManager.
(Note) INV has conducted a master lease agreement and property management agreement with Big Service
concerning “AMS Tower Minami 6-Jo.”

In addition, INV will undertake all necessary procedures, such as submission of notifications,in accordance with the Financial Instruments and Exchange Act, Building Lots and Building
Transaction Business Act and other relevant laws and legislations.

Note: This English language notice is a translation of the Japanese language notice released on
October 7, 2013 and was prepared solely for the convenience of, and reference by, non-Japanese
investors. No warranties or assurances are given for the accuracy or completeness of this Englishtranslation.

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