For Translation Purposes Only
October 2, 2008

For Immediate Release
LCP Investment Corporation
Nihon-bashi Nishikawa Bldg.
1-5-3 Nihon-bashi, Chuo-ku, Tokyo
Masayoshi Takahashi: Executive Officer(Securities Code: 8980)
The LCP REIT Advisors Co., Ltd.
Shunji Miyazaki: President and CEO
Inquiries:
Yuji Kubo
Director and CFO
TEL: +81-3-3272-7311

Notice concerning Change of a Property Management and Master Lease Company
The LCP Investment Corporation (the “Investment Corporation”) today announced its decision to change aproperty management company (“PM company”) and master lease company (“ML company”) of the properties
owned by the Investment Corporation on October 3, 2008. The company has been disclosed in the press release“Notice concerning Property Management and Master Lease Company in Properties Owned by the Investment
Corporation” on September 22, 2008.
1． Outlines of Change
A PM and ML company of two properties and a PM Company of one property out of forty-four properties ownedby the Investment Corporation are scheduled to be changed as follows.
[Change of a PM and ML Company]
Use

Property
No.

Property Name

Before the Change

Residential

R-19

Visconti Kakuozan

SBA Management Co., Ltd.

Residential

R-23

Lexington Square
Fushimi

SBA Management Co., Ltd.

After the Change
MITSUI HOME ESTATECO., LTD. (*)
MITSUI HOME ESTATE
CO., LTD. (*)[Change of a PM Company]
Use

Property
No.

Property Name

Before the Change

After the Change

OthersT-3

Lexington Plaza
Hiroshima Otemachi

SBA Management Co., Ltd.

ANABUKI HOUSINGSERVICE INC. (*)* As for the company’s profile, please refer to the following exhibit.
2．Rationale for Change
The Investment Corporation on September 22, 2008 received a report from SBA Management Co., Ltd. that it
filed for bankruptcy in the Tokyo District Court and the court ordered the commencement of bankruptcy
procedure. The Investment Corporation concluded that the PM and ML company needed to be changed
immediately for the maintenance of stable property management and made a decision concerning the abovechange after discussing the possibility of outsourcing property management business with several PM andML companies and taking the companies’ management ability and results into consideration.

3．Transaction with Stakeholders
ANABUKI HOUSING SERVICE INC., a new PM company of Lexington Plaza Hiroshima Otemachi, does
not fall under the category of stakeholders under the Law concerning Investment Trusts and Investment
Corporations (the “Investment Trust Law”) but fall under the category of a sponsor-related party (*) underself-regulation by the asset management company of the Investment Corporation, which is a measure to avoid
conflicts of interest concerning asset management of the Investment Corporation. The above transaction has been
discussed and approved in accordance with the self-regulation.
Also, MITSUI HOME ESTATE CO., LTD., a new PM and ML company of Visconti Kakuozan andLexington Square Fushimi, does not fall under the category of stakeholders under the Law concerning
Investment Trusts and Investment Corporations (the “Investment Trust Law”) or the category of a sponsor-related
party (*) under self-regulation by the asset management company of the Investment Corporation, which is ameasure to avoid conflicts of interest concerning asset management of the Investment Corporation.
(*) A sponsor-related party means: (a) a party or person who falls under the category of Related Parties, etc. defined by the Law concerning
Investment Trusts and Investment Corporations, (b) all shareholders of the asset management company, and (c) special purpose companieswhich entrust its asset management to a party or a person falling under the category of (b) above, invest in or makes silent partnershipcontributions in.

* This document is being distributed today to the Kabuto Club (the press club of the TSE) as well as to the press club for theMinistry of Land, Infrastructure and Transport and to the press club for specialty construction newspapers at the Ministry ofLand, Infrastructure and Transport.
* Website of the Investment Corporation: http://www.lcp-reit.co.jp* This English language notice is a translation of the Japanese language notice issued on the same day and was prepared solely
for the convenience of and reference by, overseas investors. LCP Investment Corporation makes no warranties as to its
accuracy or completeness.

Exhibit[Company Profile]
Name
Head Office
Representative
CapitalMajor Business

Relationship with the Investment
Corporation and the AssetManagement Company
Name
Head Office
Representative
CapitalMajor Business

Relationship with the Investment
Corporation and the AssetManagement Company

MITSUI HOME ESTATE CO., LTD.
Apple bldg. 6F, 2-3-11, Fujimi, Chiyoda-ku, Tokyo
President and CEO Asao Yoneyama
100 million yen (100% sponsored by MITSUIHOME CO., LTD.)Land development consulting
Planning, tenant seeking, management of leasing properties
Sale representative and brokerage of real estate
Building renovation, Planning and management of repair construction
Nonlife insurance agent
Not applicable

ANABUKI HOUSING SERVICE INC.
Anabuki housing chuo-dori bldg., 3-6, Konya-cho, Takamatsu-shi,
Kagawa pref.
CEO Kinue Anabuki
20 million yen
Building management of condominiums etc
Brokerage and development of leasing properties
Parking business
Building renovation, Sale of interior products
Insurance business
ANABUKI HOUSING SERVICE INC. is a subsidiary company ofthe largest shareholder of ANABUKI KOSAN INC., asponsor-related company of the Asset Management Company andfall under the category of a sponsor-related party (*) underself-regulation by the Asset Management Company, which is ameasure to avoid conflicts of interest concerning asset management of
the Investment Corporation.