<For translation purposes only>
October 27, 2009For Immediate Release
REIT Issuer
Hankyu REIT, Inc. (Securities Code: 8977)
19-19 Chaya-machi, Kita-ku, Osaka
Mineo Yamakawa, Executive Director
Asset Management Company
Hankyu REIT Asset Management, Inc.
Mineo Yamakawa, President & Representative Director
Contact:
Hideo Natsuaki
General Manager, Corporate Planning Dept.
Email: ir@hankyu-rt.jp

Notice Concerning Early Repayment of Debt Financing
Hankyu REIT, Inc. (hereafter “Hankyu REIT”) announces today its decision to repay its debt financing before the duedate (hereafter “Early repayment”) as described below.
Details
1. Overview of Early Repayment
Outstanding
Category

LenderExecution

Repayment

date of loanterm

debt total
before Early
repayment(millions of yen)

Early
repayment
amount(millions of yen)

Outstanding
debt total
after Earlyrepayment(millions of yen)

Sumitomo Mitsui Banking
Corporation

1,500

1,5000

The Bank ofTokyo-Mitsubishi UFJ, Ltd.

1,000

1,000

0800

8000

Mitsubishi UFJ Trust andBanking Corporation

3,300

2,000

1,300

The Sumitomo Trust andBanking Co., Ltd.

1,600

1,000600

Total

8,200

6,300

1,900Short-term
The Bank of Ikeda, Ltd.
borrowingFebruary 27,
2009

February 26,2010

Note: The condition precedent of this Early repayment is the conclusion of the agreement to transfer trust beneficiary interests of theHankyu Corporation Head Office Building between Hankyu REIT and Kairos Funding GK by November 24, 2009.

2. Scheduled Date of Early Repayment

November 30, 2009

3. Repayment Funds

Corporate funds (trust beneficiary interests transfer price of Hankyu
Corporation Head Office Building and HEP Five (partial transfer))1

4. Balance of Interest-Bearing Debt After Early Repayment

Current balance as of
October 27, 2009
(millions of yen)

Short-termborrowing

Repayment due on
October 30, 2009

Current balance as of

Early repayment on

Current balance as of

October 30, 2009

November 30, 2009

November 30, 2009

(millions of yen)(millions of yen)(millions of yen)

(Note 2)
(millions of yen)

13,200(2,000)

11,200(6,300)4,900

57,500―57,500―57,50070,700(2,000)68,700(6,300)62,400Long-term
debt(Note 1)

Total

Note 1: Long-term debts are loans with a repayment term (from loan execution date until the due date) that exceeds one year.
Note 2: Hankyu REIT plans to repay a total of 2,000 million yen (1,500 million yen in short-term borrowings from Mizuho Corporate
Bank, Ltd., and 500 million yen in short-term borrowings from The Chuo Mitsui Trust and Banking Company, Limited) for
borrowings due for repayment on October 30, 2009.

5. Future Outlook
Please refer to Notice Concerning Forecasts of Financial Results for the Fiscal Period Ending May 31, 2010
and Revision to Forecasts of Financial Results for the Fiscal Period Ending November 30, 2009 that was
released separately today for information on the influences affecting the conditions surrounding the management ofHankyu REIT’s assets during the fiscal period ending November 30, 2009 (June 1, 2009, to November 30, 2009) andthe fiscal period ending May 31, 2010 (December 1, 2009, to May 31, 2010).

•The Japanese original document was distributed to press clubs within the Tokyo Stock Exchange (Kabuto Club), Osaka
Securities Exchange, Ministry of Land, Infrastructure and Transport, and to the press club of the construction trade newspaper ofthe Ministry of Land, Infrastructure and Transport.

•Hankyu REIT website: http://www.hankyu-reit.jp/

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