NEWS RELEASE

Japan Real Estate Investment Corporation

November 22, 2012
To whom it may concern:<Investment Corporation>
Japan Real Estate Investment Corporation
Noritada Terasawa, Executive Director(TSE code: 8952)<Asset Management Company>
Japan Real Estate Asset Management Co., Ltd.
Hiroshi Katayama, CEO & President
Contact: Ryuta Yoshida, 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 in accordance with the resolution at the Boardof Directors meetings held on October 12, 2012 and October 22, 2012 with respect to the issuance of newunits by public offering and the secondary offering of units by over-allotment.
(1) Number of units tobe newly issued(2) Aggregate amountof issue price(3) Subscription period(subscription date)(4) Payment date(5) Allottee:

4,100 units (number of units planned to be issued 4,100 units):¥2,967,867,000 (¥723,870 per unit):

November 27, 2012 (Tue)::November 28, 2012 (Wed)SMBC Nikko 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 October 12, 2012 and October 22, 2012.
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 October12, 2012 and “Notice RegardingDetermination of Offer Prices for Issuance of New units and Secondary Offering of Units” announced on
October 22, 2012.

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
590,040
Number of newly issued units by third-party allocation
4,100
Number of units outstanding after third-party allocation
594,140
3. Use of the proceeds
The net proceeds raised through this third-party allocation of new investment units (¥2,967,867,000)
will be appropriated for part of a fund for the scheduled acquisition of new specified assets (Note).
(Note) Please refer to our News Release “Notice on Acquisition of Domestic Real Estate” released on October 12, 2012
for the summary of the acquisition of the new specified assets.

This notice is the English translation of the announcement in Japanese dated November 22, 2012 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.