December 17, 2009
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 regarding Determination of Number of Units for
Issuance of New units by Third-party Allocation
Announcement is hereby made that Japan Real Estate Investment Corporation (the “Company”) received anotification today from the allottee that it will subscribe for the whole of the units planned to be issued withrespect to the issuance of new units by third party allocation resolved with the issuance of new units by
public offering and the secondary offering of units by over-allotment resolution at the Board of Directors
meetings held on November 18 and December 1, 2009.

(1) Number of units to be : 4,200 units (number of units planned to be issued 4,200 units)
newly issued: ¥2,431,968,000 (¥579,040 per unit)(2) Aggregate amountof issue price(3) Subscription period: December 21, 2009 (Mon)(subscription date)(4) Payment date
: December 22, 2009 (Tue)(5) Allottee: Nikko Cordial Securities Inc.
<Reference>
1. The issuance of new units by third-party allocation was resolved with the issuance of new units by public
offering and the secondary offering of units by over-allotment resolution at the Board of Directors
meetings held on November 18 and December 1, 2009.
For the summary of the third-party allocation, etc., please refer to “Announcement of Issuance of New
Units and Secondary Offering of Units” announced on November 18, 2009 and “Notice Regarding
Determination of Offer Prices for Issuance of New units and Secondary Offering of Units” announced on
December 1, 2009.

Disclaimer: This document is intended to serve as a press statement to make available the information on the issuance of new units ofJapan Real Estate Investment Corporation (the “Company”) by third party allocation, and does not constitute and should not
be construed as an offer to sell or solicitation of an offer to purchase any unit or other investment of the Company.

2. Change of number of units issued and outstanding upon the third-party allocation
Number of units outstanding before third-party allocation 485,000
Number of newly issued units by third-party allocation
4,200
Number of units outstanding after third-party allocation
489,200
3. Use of the proceeds
The whole of proceeds from the issuance of new units by third-party allocation (¥2,431,968,000) will be
used for the repayment of a portion of the existing loans.

This notice is the English translation of the announcement in Japanese dated December 17, 2009 on ourwebsite. However, no assurance or warranties are given for the completeness or accuracy of this English
translation.

Disclaimer: This document is intended to serve as a press statement to make available the information on the issuance of new units ofJapan Real Estate Investment Corporation (the “Company”) by third-party allocation, and does not constitute and should not
be construed as an offer to sell or solicitation of an offer to purchase any unit or other investment of the Company.