<Provisional translation>
February 14, 2014
For Immediate Release
REIT Issuer
Hankyu REIT, Inc. (Securities Code: 8977)
19-19 Chaya-machi, Kita-ku, Osaka
Yoshiaki Shiraki, Executive Director
Asset Management Company
Hankyu REIT Asset Management, Inc.
Yoshiaki Shiraki, President & Representative Director
Contact:
Yoshihiro Nakano
General Manager, Corporate Planning Dept.
Email: hankyureit-ir@hankyu-rt.jp

Notice Concerning Election and Change in Duties of Directors, and Change in Important Employees
at Asset Management Company
Hankyu REIT, Inc. (hereafter “Hankyu REIT”) hereby notifies that at a meeting of the board of directors held
today at Hankyu REIT Asset Management, Inc., the asset management company that Hankyu REIT has
selected to manage its assets, resolutions were passed to add election of a director to the agenda of theextraordinary general meeting of shareholders to be held on March 1, 2014, and to change important employees.
The details are as follows.

1.

Director to be Newly Elected (as of March 1, 2014)
Director Hideo Natsuaki* Career summary of the director to be newly elected is provided on the attached material.
The duties of directors are to be changed as follows. (as of March 1, 2014)
Name

Toshinori Shoji

Hideo Natsuaki

New Duties and Responsibilities

Previous Duties

Investment Management Department 1,andInvestment Management Department 2
Corporate Administration andSupervision Department, andCorporate Planning Department
General Manager ofCorporate Administration andSupervision Department

Investment Management Department 1,Investment Management Department 2,and Corporate Planning Department―* President & Representative Director Yoshiaki Shiraki is to be relieved of Corporate Administration andSupervision Department duties as of March 1, 2014.

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2.

Change in Important Employees (as of March 1, 2014)
NameNew Role

Former Role

Akihisa Nakano

General Manager ofCorporate Planning Department

Yoshihiro Nakano

Retirement―General Manager ofCorporate Planning Department

Furthermore, we will submit, for filing, notices of change in directors and change in important employees to theCommissioner of the FSA (Financial Services Agency), the Minister of MLIT (Ministry of Land, Infrastructure,Transport and Tourism) and the Governor of Osaka Prefectural Government, conforming to regulatory
requirements of the Financial Instruments and Exchange Act, conditions of the Discretionary Transaction AgentLicense and regulatory requirements of the Building Lots and Buildings Transaction Business Act, respectively.

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The Japanese original document was distributed to press clubs within the Tokyo Stock Exchange (Kabuto Club), Osaka Securities
Exchange, and Ministry of Land, Infrastructure, Transport and Tourism, and to the press club of the construction trade newspaperof the Ministry of Land, Infrastructure, Transport and Tourism.
Hankyu REIT website: http://www.hankyu-reit.jp/eng/

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[Attached Material]
Career Summary of Director to be Newly Elected
Position
Director,andName(Date of Birth)
Hideo Natsuaki(Sept. 7, 1965)

Career SummaryApr. 1988 Joined The Daiwa Bank, Ltd.
July 1994 Temporarily assigned to Daiwa Bank Corporate Investment, Ltd.

Manager ofJuly 1995 Named Deputy General Manager of Capital Markets Departmentof The Daiwa Bank, Ltd.
Apr. 1999 Named Manager of Head Office Business Department

CorporateApr. 2001 Temporarily assigned to Funai Electric Co., Ltd.

GeneralAdministration
andSupervision
Department

Apr. 2003 Named Deputy General Manager of Credit Planning Division ofResona Bank, Ltd.
July 2003 Joined PATLITE Corporation
Feb. 2004 Joined Hankyu Corporation
Apr. 2004 Temporarily assigned to Hankyu REIT Asset Management, Inc.,
named Senior Manager of Financial and Planning Department
Mar. 2007 Named General Manager of Investor Relations Department
Apr. 2009 Named General Manager of Corporate Planning Department
Apr. 2011 Named General Manager of Corporate Administration andSupervision Department (current)
Mar. 2014 To be named Director, and General Manager of Corporate
Administration and Supervision Department

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